Banco De Chile $BCH Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its holdings in Banco De Chile by 53.8% in the first quarter, now owning 216,950 shares valued at approximately $5.74 million.
• Other institutional investors, including Itau Unibanco and D. E. Shaw & Co., also significantly raised their stakes in Banco De Chile, with increases of up to 863.4% during the same periods.
• Banco De Chile's stock has a current price of $29.81, with an analyst consensus rating of "Hold" and a recent downgrade to "Sell" by Wall Street Zen.

Goldman Sachs Group Inc. raised its stake in Banco De Chile (NYSE:BCH - Free Report) by 53.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,950 shares of the bank's stock after purchasing an additional 75,924 shares during the period. Goldman Sachs Group Inc.'s holdings in Banco De Chile were worth $5,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp grew 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 purchasing an additional 54,109 shares during the last quarter. Bank of America Corp DE raised its holdings in Banco De Chile by 231.9% during the fourth quarter. Bank of America Corp DE now owns 92,323 shares of the bank's stock worth $2,094,000 after purchasing an additional 64,510 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Banco De Chile by 863.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 132,991 shares of the bank's stock worth $3,016,000 after acquiring an additional 119,187 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Banco De Chile by 19.1% in the fourth quarter. Quantinno Capital Management LP now owns 12,260 shares of the bank's stock worth $278,000 after acquiring an additional 1,962 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Banco De Chile in the fourth quarter worth $522,000. Hedge funds and other institutional investors own 1.24% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Banco De Chile from a "sell" rating to a "hold" rating in a research report on Saturday. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $23.00.

Banco De Chile Stock Up 0.0%

Shares of NYSE:BCH traded up $0.01 during trading on Friday, hitting $29.31. The company's stock had a trading volume of 247,320 shares, compared to its average volume of 298,373. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.57 and a current ratio of 1.57. Banco De Chile has a fifty-two week low of $22.06 and a fifty-two week high of $31.84. The stock's 50-day moving average price is $28.83 and its two-hundred day moving average price is $28.90. The company has a market capitalization of $14.80 billion, a PE ratio of 10.43, a PEG ratio of 2.17 and a beta of 0.30.

Banco De Chile (NYSE:BCH - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The bank reported $0.64 EPS 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 business had revenue of $801.11 million for the quarter, compared to analysts' expectations of $820.11 million. As a group, sell-side 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.