Banco De Chile (NYSE:BCH) Share Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Banco De Chile’s shares moved above their 200-day moving average on Monday, briefly trading as high as $40.82 before last changing hands at $39.73.
• Wall Street sentiment remains cautious: the stock has a consensus “Reduce” rating with an average target price of $37.00, and Weiss Ratings recently downgraded it while UBS kept a neutral view with a $39 target.
• The bank reported Q1 earnings of $0.57 per share on revenue of $321.27 million, and analysts expect full-year EPS of 2.76. Institutional investors also increased or initiated positions, though hedge funds still own only 1.24% of the stock.

Banco De Chile (NYSE:BCH - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.58 and traded as high as $40.82. Banco De Chile shares last traded at $39.73, with a volume of 205,077 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings downgraded Banco De Chile from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. UBS Group set a $39.00 target price on Banco De Chile and gave the company 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $37.00.

Banco De Chile Trading Down 2.6%

The firm's 50-day moving average price is $38.31 and its 200-day moving average price is $39.58. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.00. The company has a market cap of $20.07 billion, a P/E ratio of 16.42 and a beta of 0.23.

Banco De Chile (NYSE:BCH - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The bank reported $0.57 EPS for the quarter. The company had revenue of $321.27 million for the quarter. Banco De Chile had a net margin of 29.95% and a return on equity of 19.47%. As a group, equities research analysts expect that Banco De Chile will post 2.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Banco De Chile

Several institutional investors have recently made changes to their positions in BCH. Goldman Sachs Group Inc. boosted its holdings in shares of Banco De Chile by 53.8% in the first quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank's stock worth $5,747,000 after acquiring an additional 75,924 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Banco De Chile during the 2nd quarter valued at $1,266,000. EverSource Wealth Advisors LLC lifted its holdings in Banco De Chile by 161.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank's stock worth $46,000 after purchasing an additional 929 shares in the last quarter. First Trust Advisors LP purchased a new stake in Banco De Chile during the 2nd quarter worth about $238,000. Finally, Flow Traders U.S. LLC bought a new position in Banco De Chile in the 2nd quarter worth about $323,000. Hedge funds and other institutional investors own 1.24% of the company's stock.

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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