Banco de Chile (NYSE:BCH) Reaches New 12-Month High - Here's Why

Banco de Chile (NYSE:BCH - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $30.83 and last traded at $30.64, with a volume of 91140 shares changing hands. The stock had previously closed at $30.67.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BCH shares. StockNews.com downgraded shares of Banco de Chile from a "hold" rating to a "sell" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on shares of Banco de Chile from $21.00 to $23.00 and gave the company a "neutral" rating in a research note on Friday, January 24th.

Banco de Chile Stock Performance

The firm has a fifty day moving average of $27.30 and a 200-day moving average of $25.02. The firm has a market cap of $14.94 billion, a P/E ratio of 11.79, a PEG ratio of 6.08 and a beta of 0.31. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 1.92.

Banco de Chile Dividend Announcement

The business also recently disclosed an annual dividend, which was paid on Thursday, April 3rd. Investors of record on Friday, March 21st were paid a dividend of $2.1037 per share. The ex-dividend date was Friday, March 21st. This represents a dividend yield of 5.1%. Banco de Chile's dividend payout ratio (DPR) is presently 54.90%.

Hedge Funds Weigh In On Banco de Chile

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in shares of Banco de Chile by 81.8% in the 3rd quarter. Barclays PLC now owns 11,151 shares of the bank's stock valued at $282,000 after acquiring an additional 5,016 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in shares of Banco de Chile during the 4th quarter valued at about $836,000. Matthews International Capital Management LLC acquired a new position in shares of Banco de Chile in the 4th quarter valued at approximately $400,000. Triasima Portfolio Management inc. increased its stake in Banco de Chile by 49.6% during the 4th quarter. Triasima Portfolio Management inc. now owns 17,190 shares of the bank's stock worth $390,000 after purchasing an additional 5,700 shares in the last quarter. Finally, Truffle Hound Capital LLC acquired a new stake in Banco de Chile during the 4th quarter worth approximately $4,536,000. Institutional investors and hedge funds own 1.24% of the company's stock.

About Banco de Chile

Banco de Chile, together with its subsidiaries, provides various banking services to customers in Chile. The company offers checking and debit accounts, debit and credit cards, and lines of credit; mortgage, consume, commercial, general purpose mortgage loans, and finance leases; and factoring services, mutual fund management, stock brokerage, foreign trade, payments and collections, insurance brokerage, including life and general insurance, as well as time deposits, savings instruments, and foreign currency services through branches under the Banco de Chile and Banco Edwards brands.