Banco De Chile (NYSE:BCH) Receives Consensus Rating of "Reduce" from Brokerages

Key Points

• Consensus "Reduce": Five brokerages covering Banco de Chile give a consensus recommendation of "Reduce" (one sell, four holds) with an average 12‑month target of $40.00.
• Recent results and share weakness: The bank reported Q earnings that missed expectations (EPS $0.58 vs $0.60; revenue $831.63M vs $878.92M) and its shares traded down about 4.7% to $39.30, within a 12‑month range of $27.08–$46.77.
• Dividend: Banco de Chile paid a special dividend of $2.1877 on April 13, and its dividend payout ratio is about 59.14%.

Shares of Banco De Chile (NYSE:BCH - Get Free Report) have earned a consensus recommendation of "Reduce" from the five research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $40.00.

Several equities research analysts have recently commented on BCH shares. The Goldman Sachs Group downgraded Banco De Chile from a "hold" rating to a "sell" rating and set a $36.00 target price for the company. in a report on Tuesday, January 13th. 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 report on Friday, January 16th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Banco De Chile in a report on Monday. Zacks Research raised Banco De Chile from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 11th. Finally, UBS Group set a $48.00 target price on Banco De Chile and gave the company a "neutral" rating in a report on Friday, February 6th.

Banco De Chile Trading Down 4.7%

Shares of NYSE BCH opened at $39.30 on Wednesday. Banco De Chile has a 12 month low of $27.08 and a 12 month high of $46.77. The company has a market cap of $19.85 billion, a price-to-earnings ratio of 14.08 and a beta of 0.22. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 2.09. The business has a fifty day simple moving average of $39.65 and a 200-day simple moving average of $38.50.

Banco De Chile (NYSE:BCH - Get Free Report) last announced its earnings results on Thursday, January 29th. The bank reported $0.58 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.02). Banco De Chile had a net margin of 33.09% and a return on equity of 23.94%. The company had revenue of $831.63 million for the quarter, compared to analysts' expectations of $878.92 million. Sell-side analysts predict that Banco De Chile will post 2.79 EPS for the current year.

Banco De Chile Dividend Announcement

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

Institutional Investors Weigh In On Banco De Chile

Several hedge funds have recently bought and sold shares of the business. Kestra Private Wealth Services LLC purchased a new stake in Banco De Chile in the 1st quarter worth about $492,000. Hsbc Holdings PLC purchased a new stake in Banco De Chile in the 4th quarter worth about $878,000. Caitong International Asset Management Co. Ltd lifted its stake in Banco De Chile by 40,350.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 809 shares of the bank's stock worth $31,000 after acquiring an additional 807 shares in the last quarter. Compound Planning Inc. purchased a new stake in Banco De Chile in the 4th quarter worth about $271,000. Finally, XTX Topco Ltd purchased a new stake in Banco De Chile in the 4th quarter worth about $890,000. 1.24% of the stock is 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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