Banco De Chile (NYSE:BCH) Short Interest Update

Key Points

• Short interest fell 19.1% to 518,614 shares as of April 15, leaving a days-to-cover of 1.2 and only 0.1% of the float sold short.
• Banco de Chile paid a special dividend of $2.1877 per share (record/ex-dividend March 30, paid April 13) and has a dividend payout ratio of about 59%.
• The bank reported Q1 EPS of $0.57 with a 23.94% ROE and $808.2M revenue, trades near $38 (market cap ~$19.2B), and carries an analyst consensus of "Reduce" with a $40 target.

Banco De Chile (NYSE:BCH - Get Free Report) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 518,614 shares, a decline of 19.1% from the March 31st total of 641,355 shares. Based on an average trading volume of 426,806 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.1% of the company's stock are sold short.

Banco De Chile Stock Up 3.8%

NYSE:BCH traded up $1.38 during mid-day trading on Thursday, reaching $37.99. The stock had a trading volume of 466,853 shares, compared to its average volume of 478,771. The company has a market capitalization of $19.19 billion, a price-to-earnings ratio of 13.61 and a beta of 0.22. Banco De Chile has a 1-year low of $27.08 and a 1-year high of $46.77. The stock's 50 day simple moving average is $38.87 and its two-hundred day simple moving average is $38.74. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.59 and a quick ratio of 1.53.

Banco De Chile (NYSE:BCH - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The bank reported $0.57 earnings per share (EPS) for the quarter. Banco De Chile had a return on equity of 23.94% and a net margin of 33.09%.The firm had revenue of $808.20 million for the quarter. Equities analysts anticipate that Banco De Chile will post 2.79 EPS for the current year.

Banco De Chile Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. Zacks Research raised Banco De Chile from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 11th. JPMorgan Chase & Co. lifted their price objective on Banco De Chile from $33.00 to $36.00 and gave the stock a "neutral" rating in a report on Friday, January 16th. The Goldman Sachs Group cut Banco De Chile from a "hold" rating to a "sell" rating and set a $36.00 target price for the company. in a research note on Tuesday, January 13th. UBS Group set a $48.00 price target on shares of Banco De Chile and gave the stock a "neutral" rating in a research report on Friday, February 6th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Banco De Chile in a research note on Monday, April 20th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Banco De Chile currently has an average rating of "Reduce" and a consensus target price of $40.00.

Hedge Funds Weigh In On Banco De Chile

A number of hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its holdings in shares of Banco De Chile by 53.8% during the first quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank's stock worth $5,747,000 after purchasing 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 about $1,266,000. EverSource Wealth Advisors LLC grew its position in shares of Banco De Chile by 161.6% during the 2nd 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 last quarter. First Trust Advisors LP acquired a new stake in Banco De Chile during the second quarter worth about $238,000. Finally, Flow Traders U.S. LLC bought a new position in Banco De Chile in the second quarter worth about $323,000. Institutional investors and hedge funds own 1.24% of the company's stock.

Banco De Chile Company Profile

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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