Banco De Chile (NYSE:BCH) Short Interest Update

Key Points

• Banco De Chile experienced a notable decline in short interest, with a 51.8% drop in July, bringing the total to 253,300 shares, which is just 0.1% of the company's shares.
• Wall Street analysts have downgraded Banco De Chile's rating from "hold" to "sell" as of August 9th, indicating less confidence in the stock's performance.
• The bank reported earnings of $0.64 per share for the second quarter, slightly above analysts' expectations, but fell short on revenue estimates at $801.11 million.

Banco De Chile (NYSE:BCH - Get Free Report) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 253,300 shares, adeclineof51.8% from the July 15th total of 525,200 shares. Currently,0.1% of the shares of the stock are sold short. Based on an average trading volume of 314,900 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 314,900 shares, the short-interest ratio is presently 0.8 days. Currently,0.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Banco De Chile from a "hold" rating to a "sell" rating in a report on Saturday, August 9th.

Banco De Chile Price Performance

NYSE:BCH traded up $0.33 during trading hours on Friday, reaching $29.31. The company had a trading volume of 168,352 shares, compared to its average volume of 343,627. The stock has a 50-day moving average of $29.08 and a two-hundred day moving average of $28.35. Banco De Chile has a one year low of $22.06 and a one year high of $31.84. The firm has a market capitalization of $14.80 billion, a PE ratio of 10.43, a PEG ratio of 2.18 and a beta of 0.24. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 2.09.

Banco De Chile (NYSE:BCH - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The bank reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. The company had revenue of $801.11 million for the quarter, compared to analyst estimates of $820.11 million. Banco De Chile had a return on equity of 23.00% and a net margin of 32.62%. Analysts forecast that Banco De Chile will post 2.31 earnings per share for the current year.

Hedge Funds Weigh In On Banco De Chile

Large investors have recently made changes to their positions in the company. Brooklyn Investment Group lifted its stake in Banco De Chile by 823.3% in the first quarter. Brooklyn Investment Group now owns 1,385 shares of the bank's stock valued at $37,000 after buying an additional 1,235 shares during the period. EverSource Wealth Advisors LLC lifted its stake in 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 buying an additional 929 shares during the period. Hantz Financial Services Inc. lifted its stake in Banco De Chile by 276.2% in the second quarter. Hantz Financial Services Inc. now owns 2,513 shares of the bank's stock valued at $76,000 after buying an additional 1,845 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 valued at $76,000 after buying an additional 2,401 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Banco De Chile by 1,355.4% in the second quarter. Farther Finance Advisors LLC now owns 3,231 shares of the bank's stock valued at $98,000 after buying an additional 3,009 shares during the period. Institutional investors and hedge funds own 1.24% of the company's stock.

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.

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