Banco de Chile (NYSE:BCH) Reaches New 52-Week High - Here's What Happened

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BCH shares. StockNews.com upgraded shares of Banco de Chile from a "sell" rating to a "hold" rating in a research note on Friday. JPMorgan Chase & Co. raised their target price on shares of Banco de Chile from $21.00 to $23.00 and gave the stock a "neutral" rating in a report on Friday, January 24th.

Banco de Chile Price Performance

The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 6.08 and a beta of 0.31. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.52 and a current ratio of 1.51. The company has a fifty day simple moving average of $27.35 and a two-hundred day simple moving average of $25.06.

Banco de Chile Dividend Announcement

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

Hedge Funds Weigh In On Banco de Chile

Several hedge funds have recently bought and sold shares of BCH. Baillie Gifford & Co. boosted its position in shares of Banco de Chile by 23.6% during the 4th quarter. Baillie Gifford & Co. now owns 3,236,373 shares of the bank's stock worth $73,401,000 after acquiring an additional 618,891 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in shares of Banco de Chile in the 4th quarter valued at $11,494,000. Truffle Hound Capital LLC bought a new position in shares of Banco de Chile in the 4th quarter valued at $4,536,000. Alberta Investment Management Corp acquired a new position in shares of Banco de Chile during the 4th quarter worth $4,033,000. Finally, Wellington Management Group LLP bought a new stake in shares of Banco de Chile during the 4th quarter worth $4,033,000. 1.24% of the stock is owned by institutional investors.

Banco de Chile Company Profile

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.