Banco De Chile (NYSE:BCH) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded Banco De Chile from “sell” to “hold,” while other analysts largely maintained neutral or hold ratings. The stock’s consensus rating remains “Reduce,” with an average price target of $40.
• Banco De Chile reported quarterly earnings of $0.84 per share on $999.95 million in revenue, along with a 21.10% return on equity and a 31.01% net margin.
• Several institutional investors increased their holdings, including UBS Group, Qube Research & Technologies, Marshall Wace, and Goldman Sachs; institutional investors collectively own 1.24% of the company.

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

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Banco De Chile from $42.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday. Weiss Ratings raised shares of Banco De Chile from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday. Finally, UBS Group set a $39.00 price target on shares of Banco De Chile and gave the company a "neutral" rating in a research note on Friday, May 22nd. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Banco De Chile presently has an average rating of "Reduce" and a consensus price target of $40.00.

Banco De Chile Stock Down 2.1%

Shares of NYSE BCH opened at $41.29 on Friday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.48 and a quick ratio of 1.49. The stock has a market capitalization of $20.85 billion, a PE ratio of 15.64 and a beta of 0.24. Banco De Chile has a one year low of $28.26 and a one year high of $46.77. The business's fifty day moving average price is $39.86 and its 200-day moving average price is $39.80.

Banco De Chile (NYSE:BCH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 1st. The bank reported $0.84 earnings per share for the quarter. Banco De Chile had a return on equity of 21.10% and a net margin of 31.01%.The company had revenue of $999.95 million during the quarter. On average, equities research analysts anticipate that Banco De Chile will post 2.83 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BCH. Itau Unibanco Holding S.A. boosted its stake in Banco De Chile by 29.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 835,782 shares of the bank's stock valued at $31,755,000 after buying an additional 190,567 shares during the period. UBS Group AG grew its position in Banco De Chile by 110.0% during the fourth quarter. UBS Group AG now owns 494,082 shares of the bank's stock worth $18,775,000 after buying an additional 258,844 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Banco De Chile by 199.1% during the third quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank's stock worth $10,680,000 after buying an additional 234,619 shares in the last quarter. Marshall Wace LLP increased its stake in Banco De Chile by 177.7% in the 3rd quarter. Marshall Wace LLP now owns 298,085 shares of the bank's stock worth $9,032,000 after acquiring an additional 190,741 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Banco De Chile by 53.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank's stock worth $5,747,000 after acquiring an additional 75,924 shares during the last quarter. Institutional investors 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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