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

Key Points

• Banco De Chile's stock has had its "hold (c)" rating reaffirmed by Weiss Ratings, indicating a stable outlook for the company.
• JPMorgan Chase & Co. recently raised their price objective for Banco De Chile from $30.00 to $33.00, aligning with the stock's current consensus price target.
• The bank reported $0.64 earnings per share for the last quarter, slightly exceeding the consensus estimate, though revenue fell short of expectations.

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

Other research analysts have also issued reports about the stock. Wall Street Zen raised shares of Banco De Chile from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. JPMorgan Chase & Co. raised their price objective on shares of Banco De Chile from $30.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $33.00.

Banco De Chile Stock Up 1.4%

Banco De Chile stock traded up $0.47 during midday trading on Friday, hitting $33.63. 225,511 shares of the stock were exchanged, compared to its average volume of 303,312. Banco De Chile has a 1 year low of $22.06 and a 1 year high of $33.86. The firm has a market cap of $16.98 billion, a P/E ratio of 11.97, a P/E/G ratio of 2.44 and a beta of 0.26. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.57 and a quick ratio of 1.57. The company has a 50 day moving average price of $30.22 and a two-hundred day moving average price of $29.59.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. TT International Asset Management LTD acquired a new stake in shares of Banco De Chile in the 3rd quarter worth approximately $26,962,000. Itau Unibanco Holding S.A. lifted its stake in shares of Banco De Chile by 104.6% in the 1st quarter. Itau Unibanco Holding S.A. now owns 437,338 shares of the bank's stock worth $11,054,000 after acquiring an additional 223,565 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Banco De Chile in the 2nd quarter worth approximately $3,454,000. Cubist Systematic Strategies LLC lifted its stake in shares of Banco De Chile by 128.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 197,931 shares of the bank's stock worth $6,021,000 after acquiring an additional 111,253 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of 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 period. Institutional investors own 1.24% of the company's stock.

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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