Banco de Chile (NYSE:BCH) Reaches New 52-Week High - Time to Buy?

Banco de Chile (NYSE:BCH - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $28.85 and last traded at $28.68, with a volume of 22168 shares. The stock had previously closed at $28.40.

Analyst Upgrades and Downgrades

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

Banco de Chile Trading Up 0.2 %

The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 1.92. The company has a market cap of $15.50 billion, a P/E ratio of 12.22, a P/E/G ratio of 6.08 and a beta of 0.31. The business has a 50-day moving average price of $27.03 and a two-hundred day moving average price of $24.88.

Banco de Chile Announces Dividend

The business also recently declared an annual dividend, which was paid on Thursday, April 3rd. Stockholders of record on Friday, March 21st were paid a $2.1037 dividend. This represents a dividend yield of 5.1%. The ex-dividend date was Friday, March 21st. Banco de Chile's dividend payout ratio (DPR) is currently 62.55%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in shares of Banco de Chile by 293.4% in the 3rd quarter. State Street Corp now owns 128,448 shares of the bank's stock valued at $3,251,000 after buying an additional 95,797 shares in the last quarter. Barclays PLC raised its holdings in Banco de Chile by 81.8% during the 3rd quarter. Barclays PLC now owns 11,151 shares of the bank's stock worth $282,000 after buying an additional 5,016 shares during the period. Blue Trust Inc. boosted its holdings in shares of Banco de Chile by 39.8% in the fourth quarter. Blue Trust Inc. now owns 15,574 shares of the bank's stock valued at $353,000 after buying an additional 4,434 shares during the period. Matthews International Capital Management LLC acquired a new stake in shares of Banco de Chile during the fourth quarter worth $400,000. Finally, R Squared Ltd acquired a new position in Banco de Chile in the 4th quarter worth $94,000. Institutional investors own 1.24% of the company's stock.

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.