Alberta Investment Management Corp Sells 50,823 Shares of Banco De Chile (NYSE:BCH)

Key Points

• Alberta Investment Management Corp sold 50,823 shares of Banco De Chile, reducing its stake by 28.6% to 127,004 shares valued at $3,364,000.
• Several institutional investors, including XTX Topco Ltd and Advisors Preferred LLC, have recently made new investments or increased their holdings in Banco De Chile.
• Analysts upgraded Banco De Chile's rating from "sell" to "hold" and the bank reported an earnings per share (EPS) of $0.64, slightly above analyst expectations.

Alberta Investment Management Corp decreased its position in shares of Banco De Chile (NYSE:BCH - Free Report) by 28.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,004 shares of the bank's stock after selling 50,823 shares during the period. Alberta Investment Management Corp's holdings in Banco De Chile were worth $3,364,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BCH. Silvercrest Asset Management Group LLC bought a new stake in shares of Banco De Chile during the fourth quarter worth $11,494,000. Wellington Management Group LLP purchased a new position in Banco De Chile in the 4th quarter worth about $4,033,000. D. E. Shaw & Co. Inc. lifted its holdings in Banco De Chile by 863.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 132,991 shares of the bank's stock valued at $3,016,000 after buying an additional 119,187 shares in the last quarter. Marshall Wace LLP boosted its position in Banco De Chile by 36.2% in the 4th quarter. Marshall Wace LLP now owns 440,004 shares of the bank's stock valued at $9,979,000 after buying an additional 117,045 shares during the period. Finally, Itau Unibanco Holding S.A. grew its stake in Banco De Chile by 105.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 213,773 shares of the bank's stock worth $4,848,000 after acquiring an additional 109,700 shares in the last quarter. Hedge funds and other institutional investors own 1.24% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Banco De Chile from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd.

Banco De Chile Stock Down 1.3%

Shares of BCH stock traded down $0.35 during mid-day trading on Wednesday, hitting $27.73. The stock had a trading volume of 131,202 shares, compared to its average volume of 299,056. Banco De Chile has a 12-month low of $22.06 and a 12-month high of $31.84. 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 firm's 50-day moving average is $29.31 and its two-hundred day moving average is $28.08. The firm has a market capitalization of $14.00 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 2.07 and a beta of 0.24.

Banco De Chile (NYSE:BCH - Get Free Report) last released 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 company had revenue of $801.11 million during the quarter, compared to analyst estimates of $820.11 million. Banco De Chile had a net margin of 32.62% and a return on equity of 23.00%. On average, analysts predict that Banco De Chile will post 2.31 earnings per share for the current fiscal year.

Banco De Chile 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.