Banco De Chile's (BCH) "Hold (C)" Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed Banco De Chile's stock rating as "hold (C)", maintaining a consistent view on the bank's market position.
• Banco De Chile experienced a 3.6% increase in share price, trading at $31.09, as it continues to show strength in a fluctuating market.
• Recently, institutional investors have significantly increased their holdings in Banco De Chile, with Goldman Sachs boosting its shares by 53.8% in the first quarter.

Banco De Chile (NYSE:BCH - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded shares of Banco De Chile from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $23.00.

Banco De Chile Trading Up 3.6%

Shares of Banco De Chile stock traded up $1.08 during mid-day trading on Wednesday, hitting $31.09. The stock had a trading volume of 269,108 shares, compared to its average volume of 301,885. The firm has a 50-day moving average of $29.32 and a two-hundred day moving average of $29.15. Banco De Chile has a 12-month low of $22.06 and a 12-month high of $31.84. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 2.09. The firm has a market cap of $15.70 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 2.25 and a beta of 0.26.

Banco De Chile (NYSE:BCH - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The bank reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. The firm 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%. Sell-side analysts forecast that Banco De Chile will post 2.31 earnings per share for the current year.

Institutional Trading of Banco De Chile

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in shares of Banco De Chile by 53.8% in the first quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank's stock valued at $5,747,000 after acquiring an additional 75,924 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings in 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 worth $11,054,000 after buying an additional 223,565 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Banco De Chile by 289.5% during the first quarter. Cubist Systematic Strategies LLC now owns 86,678 shares of the bank's stock worth $2,296,000 after buying an additional 64,425 shares in the last quarter. XTX Topco Ltd purchased a new stake in Banco De Chile during the first quarter worth about $245,000. Finally, Advisors Preferred LLC purchased a new stake in Banco De Chile during the first quarter worth about $819,000. Hedge funds and other institutional investors own 1.24% of the company's stock.

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.

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