Banco De Chile (NYSE:BCH) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Banco De Chile shares crossed above their 200-day moving average, reaching $41.28 and last trading at $41.01, compared with a 200-day average of $39.71.
• Analyst sentiment remains cautious: four analysts rate the stock Hold and one rates it Sell, producing a consensus rating of “Reduce” and an average price target of $40.00.
• The bank reported quarterly earnings of $0.84 per share on $999.95 million in revenue, with a 21.10% return on equity and 31.01% net margin; institutional investors own 1.24% of the stock.

Banco De Chile (NYSE:BCH - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $39.71 and traded as high as $41.28. Banco De Chile shares last traded at $41.01, with a volume of 215,502 shares.

Analyst Ratings Changes

BCH has been the subject of several analyst reports. UBS Group set a $39.00 price objective on Banco De Chile and gave the company a "neutral" rating in a report on Friday, May 22nd. Weiss Ratings raised shares of Banco De Chile from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 3rd. JPMorgan Chase & Co. upped their target price on Banco De Chile from $42.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Finally, Wall Street Zen raised Banco De Chile from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $40.00.

Banco De Chile Price Performance

The company has a debt-to-equity ratio of 1.94, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $20.71 billion, a price-to-earnings ratio of 15.53 and a beta of 0.24. The stock has a 50 day moving average price of $40.32 and a 200-day moving average price of $39.71.

Banco De Chile (NYSE:BCH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The bank reported $0.84 EPS for the quarter. The firm had revenue of $999.95 million during the quarter. Banco De Chile had a return on equity of 21.10% and a net margin of 31.01%. On average, analysts forecast that Banco De Chile will post 2.85 earnings per share for the current year.

Hedge Funds Weigh In On Banco De Chile

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Banco De Chile by 6.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,396 shares of the bank's stock valued at $167,000 after buying an additional 255 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Banco De Chile by 3.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,972 shares of the bank's stock valued at $295,000 after purchasing an additional 298 shares during the last quarter. Triasima Portfolio Management inc. grew its stake in shares of Banco De Chile by 0.6% in the 4th quarter. Triasima Portfolio Management inc. now owns 77,835 shares of the bank's stock valued at $2,958,000 after buying an additional 455 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Banco De Chile by 3.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 18,508 shares of the bank's stock valued at $703,000 after buying an additional 651 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Banco De Chile by 33,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank's stock worth $26,000 after buying an additional 678 shares during the last quarter. 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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