Banco De Chile (NYSE:BCH) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. raised its price target for Banco De Chile's stock from $30.00 to $33.00, suggesting a potential upside of 2.30% from the stock's previous close.
• Banco De Chile currently holds a consensus rating of "Hold" among analysts, with additional ratings upgrades from other firms indicating cautious optimism.
• The bank's recent quarterly earnings reported a $0.64 EPS, exceeding estimates while revenue fell short at $801.11 million.

Banco De Chile (NYSE:BCH - Get Free Report) had its price objective boosted by analysts at JPMorgan Chase & Co. from $30.00 to $33.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the bank's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 2.30% from the stock's previous close.

Other analysts also recently issued research reports about the company. Wall Street Zen upgraded Banco De Chile from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. Weiss Ratings restated a "hold (c)" rating on shares of Banco De Chile in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Banco De Chile currently has a consensus rating of "Hold" and a consensus target price of $33.00.

Banco De Chile Stock Performance

Shares of BCH opened at $32.26 on Thursday. The company has a market cap of $16.29 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 2.30 and a beta of 0.26. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 2.09. The stock has a 50-day moving average price of $29.74 and a 200-day moving average price of $29.31. Banco De Chile has a 12-month low of $22.06 and a 12-month high of $32.31.

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

Hedge Funds Weigh In On Banco De Chile

Several hedge funds have recently made changes to their positions in BCH. TT International Asset Management LTD purchased a new position in shares of Banco De Chile during the third quarter valued at approximately $26,962,000. Itau Unibanco Holding S.A. increased its stake in shares of Banco De Chile by 104.6% during the first quarter. Itau Unibanco Holding S.A. now owns 437,338 shares of the bank's stock valued at $11,054,000 after buying an additional 223,565 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in shares of Banco De Chile during the second quarter valued at approximately $3,454,000. Cubist Systematic Strategies LLC increased its stake in shares of Banco De Chile by 128.4% during the second quarter. Cubist Systematic Strategies LLC now owns 197,931 shares of the bank's stock valued at $6,021,000 after buying an additional 111,253 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake 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 valued at $5,747,000 after buying an additional 75,924 shares during the period. 1.24% of the stock is owned by hedge funds and other institutional investors.

About Banco De Chile

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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