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

Key Points

• Shares crossed above the 200‑day moving average: Banco de Chile (NYSE:BCH) climbed above its 200‑day MA of $37.11, trading as high as $38.69 and last at $37.3240 on volume of 587,811.
• Analyst consensus is "Reduce": MarketBeat data shows a consensus rating of Reduce with a $40.00 price target, reflecting mixed recent actions (four Holds, one Sell and varied price‑target changes from UBS and JPMorgan).
• Quarterly results missed estimates: The bank reported EPS of $0.58 vs. $0.60 expected and revenue of $826.1M vs. $878.9M, while maintaining a 33.09% net margin, 23.94% ROE, a $18.85B market cap and a PE of 13.38.

Banco De Chile (NYSE:BCH - Get Free Report) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $37.11 and traded as high as $38.69. Banco De Chile shares last traded at $37.3240, with a volume of 587,811 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BCH shares. Weiss Ratings reissued a "hold (c)" rating on shares of Banco De Chile in a report on Wednesday, January 21st. UBS Group set a $48.00 price target on Banco De Chile and gave the stock a "neutral" rating in a research report on Friday, February 6th. Wall Street Zen downgraded Banco De Chile from a "hold" rating to a "sell" rating in a report on Friday, November 28th. Zacks Research upgraded Banco De Chile from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 11th. Finally, JPMorgan Chase & Co. upped their price objective on Banco De Chile from $33.00 to $36.00 and gave the stock a "neutral" rating in a research note on Friday, January 16th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $40.00.

Banco De Chile Stock Performance

The stock has a market capitalization of $18.85 billion, a PE ratio of 13.38 and a beta of 0.20. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.53 and a current ratio of 1.59. The firm has a 50 day moving average of $41.81 and a 200-day moving average of $37.11.

Banco De Chile (NYSE:BCH - Get Free Report) last released its earnings results on Tuesday, February 3rd. The bank reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.02). The business had revenue of $826.07 million for the quarter, compared to analysts' expectations of $878.92 million. Banco De Chile had a net margin of 33.09% and a return on equity of 23.94%. Research analysts forecast that Banco De Chile will post 2.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BCH. Caitong International Asset Management Co. Ltd lifted its position in Banco De Chile by 33,900.0% in 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 in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Banco De Chile by 161.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank's stock worth $46,000 after acquiring an additional 929 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Banco De Chile by 286.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank's stock worth $66,000 after acquiring an additional 1,276 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Banco De Chile by 2,425.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank's stock worth $76,000 after acquiring an additional 2,401 shares in the last quarter. Finally, Inspire Investing LLC acquired a new stake in Banco De Chile during the fourth quarter valued at $100,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.