Banco De Chile (NYSE:BCH) Given Consensus Recommendation of "Reduce" by Brokerages

Key Points

• Analysts remain cautious on Banco de Chile: five analysts give the stock a consensus “Reduce” rating, comprising one sell and four hold recommendations. The average 12-month price target is $40, below the reported share price of $43.11.
• Recent research has been mostly neutral, although JPMorgan raised its price target to $45 from $42 and Wall Street Zen upgraded the stock from sell to hold.
• Banco de Chile reported quarterly EPS of $0.84, revenue of approximately $999.95 million, a 21.10% return on equity and a 31.01% net margin; analysts expect full-year EPS of $2.85.

Shares of Banco De Chile (NYSE:BCH - Get Free Report) have received an average rating of "Reduce" from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $40.00.

BCH has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on Banco De Chile from $42.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. UBS Group set a $39.00 target price on Banco De Chile and gave the stock a "neutral" rating in a research report on Friday, May 22nd. Wall Street Zen upgraded Banco De Chile from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised shares of Banco De Chile from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 3rd.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BCH. Pekin Hardy Strauss Inc. increased its holdings in Banco De Chile by 440.3% during the 4th quarter. Pekin Hardy Strauss Inc. now owns 51,325 shares of the bank's stock worth $1,950,000 after purchasing an additional 41,825 shares in the last quarter. UBS Group AG lifted its holdings in shares of Banco De Chile by 110.0% in the fourth quarter. UBS Group AG now owns 494,082 shares of the bank's stock valued at $18,775,000 after purchasing an additional 258,844 shares in the last quarter. Advisors Preferred LLC lifted its holdings in shares of Banco De Chile by 278.9% in the first quarter. Advisors Preferred LLC now owns 27,706 shares of the bank's stock valued at $1,026,000 after purchasing an additional 20,393 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in shares of Banco De Chile during the fourth quarter valued at approximately $746,000. Finally, Ethic Inc. boosted its position in shares of Banco De Chile by 33.6% during the fourth quarter. Ethic Inc. now owns 63,284 shares of the bank's stock valued at $2,405,000 after buying an additional 15,911 shares during the last quarter. 1.24% of the stock is owned by institutional investors.

Banco De Chile Price Performance

BCH stock opened at $43.11 on Tuesday. The stock has a market capitalization of $21.78 billion, a PE ratio of 16.33 and a beta of 0.24. The company's 50-day moving average is $40.54 and its 200-day moving average is $39.59. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.48 and a quick ratio of 1.48. Banco De Chile has a 1 year low of $28.26 and a 1 year high of $46.77.

Banco De Chile (NYSE:BCH - Get Free Report) last issued its earnings results on Wednesday, July 1st. The bank reported $0.84 EPS for the quarter. Banco De Chile had a return on equity of 21.10% and a net margin of 31.01%.The business had revenue of $999.95 million during the quarter. Equities research analysts expect that Banco De Chile will post 2.85 EPS for the current fiscal year.

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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