Short Interest in Banco de Chile (NYSE:BCH) Expands By 32.3%

Banco de Chile (NYSE:BCH - Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 314,600 shares, an increase of 32.3% from the March 15th total of 237,800 shares. Currently, 0.1% of the company's shares are sold short. Based on an average daily volume of 285,800 shares, the days-to-cover ratio is presently 1.1 days.

Hedge Funds Weigh In On Banco de Chile

A number of institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC increased its position in Banco de Chile by 14.5% during the fourth quarter. Signaturefd LLC now owns 3,903 shares of the bank's stock valued at $89,000 after acquiring an additional 493 shares during the last quarter. R Squared Ltd bought a new position in shares of Banco de Chile in the 4th quarter worth approximately $94,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Banco de Chile by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,416 shares of the bank's stock worth $100,000 after buying an additional 1,291 shares during the last quarter. Atlas Capital Advisors Inc. increased its holdings in Banco de Chile by 30.7% during the fourth quarter. Atlas Capital Advisors Inc. now owns 6,324 shares of the bank's stock valued at $143,000 after buying an additional 1,487 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in shares of Banco de Chile during the 4th quarter valued at $151,000. 1.24% of the stock is currently owned by hedge funds and other institutional investors.

Banco de Chile Stock Performance

BCH traded up $0.56 during midday trading on Thursday, hitting $30.39. 62,680 shares of the company traded hands, compared to its average volume of 232,037. The company's 50-day moving average is $26.87 and its 200 day moving average is $24.78. 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 firm has a market capitalization of $15.35 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 6.08 and a beta of 0.31. Banco de Chile has a 52 week low of $21.76 and a 52 week high of $30.48.

Banco de Chile Dividend Announcement

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

Analyst Ratings Changes

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

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.