Banco De Chile $BCH Shares Bought by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its position in Banco De Chile by 289.5% during the first quarter, purchasing an additional 64,425 shares, bringing its total holdings to 86,678 shares valued at approximately $2.3 million.
• Several institutional investors, including Brooklyn Investment Group, Parallel Advisors LLC, and Yousif Capital Management, also significantly increased their holdings in Banco De Chile during the same period.
• Banco De Chile's stock price opened at $30.43, with a market capitalization of $15.37 billion and a recent downgrade from "hold" to "sell" by Wall Street analyst ratings.

Cubist Systematic Strategies LLC boosted its stake in shares of Banco De Chile (NYSE:BCH - Free Report) by 289.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,678 shares of the bank's stock after purchasing an additional 64,425 shares during the period. Cubist Systematic Strategies LLC's holdings in Banco De Chile were worth $2,296,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BCH. Raymond James Financial Inc. purchased a new position in shares of Banco De Chile in the 4th quarter valued at $300,000. Northern Trust Corp raised its stake in shares of Banco De Chile by 57.1% in the 4th quarter. Northern Trust Corp now owns 148,843 shares of the bank's stock valued at $3,376,000 after acquiring an additional 54,109 shares during the period. Bank of America Corp DE raised its stake in shares of Banco De Chile by 231.9% in the 4th quarter. Bank of America Corp DE now owns 92,323 shares of the bank's stock valued at $2,094,000 after acquiring an additional 64,510 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Banco De Chile by 863.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 132,991 shares of the bank's stock valued at $3,016,000 after acquiring an additional 119,187 shares during the period. Finally, Quantinno Capital Management LP raised its stake in shares of Banco De Chile by 19.1% in the 4th quarter. Quantinno Capital Management LP now owns 12,260 shares of the bank's stock valued at $278,000 after acquiring an additional 1,962 shares during the period. Hedge funds and other institutional investors own 1.24% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Banco De Chile from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $23.00.

Banco De Chile Stock Down 3.2%

Banco De Chile stock traded down $1.00 during midday trading on Friday, hitting $29.97. 292,803 shares of the stock were exchanged, compared to its average volume of 271,281. Banco De Chile has a 1 year low of $22.06 and a 1 year high of $31.84. The firm has a market cap of $15.14 billion, a P/E ratio of 10.67, a P/E/G ratio of 2.29 and a beta of 0.30. 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 $28.79 and a two-hundred day moving average price of $28.79.

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.

Banco De Chile Company 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.