Banco De Chile (NYSE:BCH) Posts Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Earnings miss: Banco de Chile reported quarterly EPS of $0.57, missing the consensus by $0.01, and posted revenue of $321.27 million versus analysts' expectations of $869.80 million.
• Stock and dividend: Shares rose 3.8% to $37.99 despite the miss, and the bank paid a special dividend of $2.1877 per share on April 13 (payout ratio ~59%).
• Analyst sentiment: The consensus rating is "Reduce" with a $40 price target; Goldman Sachs downgraded the stock to "sell" with a $36 target while most other firms maintain Hold/Neutral ratings.

Banco De Chile (NYSE:BCH - Get Free Report) posted its quarterly earnings data on Thursday. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01), FiscalAI reports. Banco De Chile had a return on equity of 23.94% and a net margin of 33.09%.The firm had revenue of $321.27 million for the quarter, compared to analysts' expectations of $869.80 million.

Banco De Chile Trading Up 3.8%

Shares of Banco De Chile stock traded up $1.38 on Thursday, hitting $37.99. 466,853 shares of the company traded hands, compared to its average volume of 478,771. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 2.09. The company has a market cap of $19.19 billion, a PE ratio of 13.61 and a beta of 0.22. The stock's 50 day moving average price is $38.87 and its 200-day moving average price is $38.74. Banco De Chile has a 52 week low of $27.08 and a 52 week high of $46.77.

Banco De Chile Dividend Announcement

The business also recently declared a special dividend, which was paid on Monday, April 13th. Stockholders of record on Monday, March 30th were paid a dividend of $2.1877 per share. The ex-dividend date of this dividend was Monday, March 30th. Banco De Chile's payout ratio is currently 59.14%.

Analyst Ratings Changes

BCH has been the topic of several analyst reports. The Goldman Sachs Group downgraded shares of Banco De Chile from a "hold" rating to a "sell" rating and set a $36.00 price target on the stock. in a report on Tuesday, January 13th. UBS Group set a $48.00 target price on Banco De Chile and gave the company a "neutral" rating in a research report on Friday, February 6th. JPMorgan Chase & Co. upped their target price on Banco De Chile from $33.00 to $36.00 and gave the company a "neutral" rating in a research note on Friday, January 16th. Zacks Research upgraded Banco De Chile from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 11th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Banco De Chile in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $40.00.

Institutional Investors Weigh In On Banco De Chile

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Banco De Chile by 33,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank's stock worth $26,000 after buying an additional 678 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Banco De Chile by 161.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank's stock valued at $46,000 after acquiring an additional 929 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Banco De Chile by 286.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank's stock worth $66,000 after acquiring an additional 1,276 shares during the period. Tower Research Capital LLC TRC lifted its stake in Banco De Chile by 2,425.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank's stock worth $76,000 after acquiring an additional 2,401 shares during the period. Finally, Inspire Investing LLC bought a new position in Banco De Chile during the 4th quarter worth about $100,000. 1.24% of the stock is owned by institutional investors.

About Banco De Chile

Banco de Chile NYSE: BCH is a leading Chilean financial institution headquartered in Santiago. Founded in 1893, the bank is one of the country's oldest and most established banking groups, serving a broad spectrum of individual, corporate and institutional clients. It is publicly listed and operates under Chilean banking regulations while participating in international capital markets.

The bank's core businesses include retail banking, commercial and corporate banking, and investment banking.

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