Banco De Chile (NYSE:BCH) Lowered to Sell Rating by Wall Street Zen

Key Points

• Banco De Chile has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, indicating a negative outlook from analysts.
• The bank reported a quarterly EPS of $0.64, slightly exceeding the consensus estimate, but its revenue fell short of expectations at $801.11 million.
• Institutional investors have been active, with Wellington Management Group and other firms acquiring new stakes or increasing their holdings in the bank during the fourth quarter.

Banco De Chile (NYSE:BCH - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Banco De Chile Stock Up 1.5%

Shares of BCH stock traded up $0.45 during trading on Friday, hitting $29.18. 154,111 shares of the company were exchanged, compared to its average volume of 298,985. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market capitalization of $14.74 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 2.14 and a beta of 0.24. The business's 50-day simple moving average is $29.16 and its 200 day simple moving average is $28.23. Banco De Chile has a twelve month low of $22.06 and a twelve month high of $31.84.

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

Institutional Trading of Banco De Chile

Institutional investors have recently made changes to their positions in the stock. Brandywine Global Investment Management LLC raised its position in Banco De Chile by 16.8% during the second quarter. Brandywine Global Investment Management LLC now owns 30,131 shares of the bank's stock valued at $917,000 after acquiring an additional 4,340 shares in the last quarter. Creative Planning raised its position in Banco De Chile by 24.8% during the second quarter. Creative Planning now owns 16,517 shares of the bank's stock valued at $502,000 after acquiring an additional 3,277 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Banco De Chile by 27.3% during the second quarter. PNC Financial Services Group Inc. now owns 9,578 shares of the bank's stock valued at $291,000 after acquiring an additional 2,055 shares in the last quarter. SBI Securities Co. Ltd. raised its position in Banco De Chile by 8,516.3% during the second quarter. SBI Securities Co. Ltd. now owns 33,345 shares of the bank's stock valued at $1,014,000 after acquiring an additional 32,958 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its position in Banco De Chile by 185.3% during the second quarter. Campbell & CO Investment Adviser LLC now owns 26,095 shares of the bank's stock valued at $794,000 after acquiring an additional 16,948 shares in the last quarter. 1.24% of the stock is currently owned by institutional investors and hedge funds.

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.