Banco De Chile $BCH Shares Purchased by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management inc. increased its holdings in Banco De Chile by 227.3% in Q2, owning 77,380 shares valued at $2.35 million after purchasing an additional 53,735 shares.
• Several hedge funds, including Brooklyn Investment Group and Farther Finance Advisors LLC, significantly expanded their stakes, showing growing institutional interest in Banco De Chile.
• Analysts have rated Banco De Chile as a "Hold," with an average target price of $23.00, following their recent earnings report where the company exceeded EPS estimates.

Triasima Portfolio Management inc. raised its holdings in shares of Banco De Chile (NYSE:BCH - Free Report) by 227.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,380 shares of the bank's stock after purchasing an additional 53,735 shares during the quarter. Triasima Portfolio Management inc.'s holdings in Banco De Chile were worth $2,354,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group grew its stake in Banco De Chile by 823.3% during the 1st quarter. Brooklyn Investment Group now owns 1,385 shares of the bank's stock valued at $37,000 after purchasing an additional 1,235 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Banco De Chile by 1,355.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,231 shares of the bank's stock valued at $98,000 after purchasing an additional 3,009 shares in the last quarter. Parallel Advisors LLC grew its stake in Banco De Chile by 7.5% during the 2nd quarter. Parallel Advisors LLC now owns 6,141 shares of the bank's stock valued at $187,000 after purchasing an additional 428 shares in the last quarter. Ballentine Partners LLC acquired a new stake in Banco De Chile during the 2nd quarter valued at approximately $223,000. Finally, Yousif Capital Management LLC acquired a new stake in Banco De Chile during the 1st quarter valued at approximately $206,000. Institutional investors and hedge funds own 1.24% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of Banco De Chile in a research note on Saturday, September 27th. Wall Street Zen raised Banco De Chile from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $23.00.

Banco De Chile Trading Down 1.5%

Shares of NYSE BCH opened at $30.00 on Wednesday. The company has a market cap of $15.15 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 2.25 and a beta of 0.26. Banco De Chile has a 12-month low of $22.06 and a 12-month high of $31.84. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 2.09. The stock's 50 day simple moving average is $29.32 and its 200 day simple moving average is $29.15.

Banco De Chile (NYSE:BCH - Get Free Report) last announced 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. The business had revenue of $801.11 million for the quarter, compared to the consensus estimate of $820.11 million. Banco De Chile had a return on equity of 23.00% and a net margin of 32.62%. Equities research analysts expect that Banco De Chile will post 2.31 EPS for the current year.

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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