Banco De Chile (NYSE:BCH) Price Target Raised to $45.00

Key Points

• JPMorgan raised Banco de Chile’s price target to $45 from $42 while maintaining a “neutral” rating, implying 9.09% upside from the prior close.
• Analyst sentiment remains cautious: four analysts rate the stock “Hold” and one rates it “Sell,” resulting in a MarketBeat consensus rating of “Reduce” and an average price target of $40.
• BCH shares fell 2.2% to $41.25 in Friday trading. The bank reported quarterly earnings of $0.84 per share on $999.95 million in revenue, with a 31.01% net margin and 21.10% return on equity.

Banco De Chile (NYSE:BCH - Get Free Report) had its price target upped by JPMorgan Chase & Co. from $42.00 to $45.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the bank's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 9.09% from the company's previous close.

A number of other equities analysts also recently issued reports on BCH. Weiss Ratings upgraded Banco De Chile from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday. UBS Group set a $39.00 price objective on Banco De Chile and gave the stock a "neutral" rating in a research note on Friday, May 22nd. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $40.00.

Banco De Chile Stock Down 2.2%

BCH stock traded down $0.91 during midday trading on Friday, reaching $41.25. 217,783 shares of the company's stock traded hands, compared to its average volume of 378,885. The company has a market cap of $20.84 billion, a price-to-earnings ratio of 15.64 and a beta of 0.24. The firm's fifty day moving average price is $39.79 and its 200-day moving average price is $39.79. The company has a quick ratio of 1.49, a current ratio of 1.48 and a debt-to-equity ratio of 1.94. Banco De Chile has a 52 week low of $28.26 and a 52 week high of $46.77.

Banco De Chile (NYSE:BCH - Get Free Report) last released its quarterly earnings data on Wednesday, July 1st. The bank reported $0.84 earnings per share for the quarter. The firm had revenue of $999.95 million for the quarter. Banco De Chile had a net margin of 31.01% and a return on equity of 21.10%. As a group, sell-side analysts forecast that Banco De Chile will post 2.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pekin Hardy Strauss Inc. increased its position in shares of Banco De Chile by 440.3% during the 4th quarter. Pekin Hardy Strauss Inc. now owns 51,325 shares of the bank's stock valued at $1,950,000 after purchasing an additional 41,825 shares during the last quarter. UBS Group AG boosted its holdings in shares of Banco De Chile by 110.0% in the 4th quarter. UBS Group AG now owns 494,082 shares of the bank's stock worth $18,775,000 after buying an additional 258,844 shares during the last quarter. Advisors Preferred LLC boosted its holdings in shares of Banco De Chile by 278.9% in the 1st quarter. Advisors Preferred LLC now owns 27,706 shares of the bank's stock worth $1,026,000 after buying an additional 20,393 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Banco De Chile during the fourth quarter valued at about $746,000. Finally, Ethic Inc. grew its position in Banco De Chile by 33.6% during the fourth quarter. Ethic Inc. now owns 63,284 shares of the bank's stock valued at $2,405,000 after buying an additional 15,911 shares during the period. 1.24% of the stock is currently owned by hedge funds and other 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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