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Mackenzie Financial Corp Has $212,000 Stake in Banco De Chile (NYSE:BCH)

Banco De Chile logo with Finance background

Key Points

  • Mackenzie Financial Corp significantly reduced its holdings in Banco De Chile by 73.2% during the 1st quarter, now owning only 8,010 shares valued at $212,000.
  • Banco De Chile's stock has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a less favorable outlook.
  • The bank reported a quarterly earnings per share (EPS) of $0.64, slightly surpassing analysts' expectations of $0.63, despite revenue falling short of estimates.
  • Looking to export and analyze Banco De Chile data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Mackenzie Financial Corp trimmed its stake in shares of Banco De Chile (NYSE:BCH - Free Report) by 73.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,010 shares of the bank's stock after selling 21,881 shares during the period. Mackenzie Financial Corp's holdings in Banco De Chile were worth $212,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BCH. Renaissance Technologies LLC raised its position in Banco De Chile by 2.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,335,194 shares of the bank's stock valued at $30,282,000 after buying an additional 29,300 shares during the period. Dimensional Fund Advisors LP raised its position in Banco De Chile by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 813,238 shares of the bank's stock valued at $18,443,000 after buying an additional 38,232 shares during the period. Silvercrest Asset Management Group LLC acquired a new position in Banco De Chile during the fourth quarter valued at $11,494,000. Marshall Wace LLP raised its position in Banco De Chile by 36.2% during the fourth 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, Bessemer Group Inc. raised its position in Banco De Chile by 3.2% during the first quarter. Bessemer Group Inc. now owns 401,760 shares of the bank's stock valued at $10,642,000 after buying an additional 12,599 shares during the period. 1.24% of the stock is owned by hedge funds and other institutional investors.

Banco De Chile Stock Down 1.7%

BCH stock traded down $0.49 during mid-day trading on Thursday, hitting $29.15. The stock had a trading volume of 92,972 shares, compared to its average volume of 297,330. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 2.09. Banco De Chile has a 1-year low of $22.06 and a 1-year high of $31.84. The company has a fifty day moving average of $29.13 and a 200 day moving average of $28.25. The stock has a market capitalization of $14.72 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 2.16 and a beta of 0.24.

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

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Banco De Chile from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th.

Get Our Latest Stock Analysis on Banco De Chile

Banco De Chile Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Banco De Chile (NYSE:BCH)

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