Investors Research Corp Sells 24,938 Shares of Banco De Chile $BCH

Key Points

• Investors Research Corp significantly reduced its stake in Banco De Chile, selling 24,938 shares and holding only 1,575 shares, a decrease of 94.1% in the second quarter.
• Goldman Sachs and other firms increased their investments in Banco De Chile, with Goldman Sachs raising its stake by 53.8% to own 216,950 shares.
• Analyst ratings for Banco De Chile were downgraded from a "hold" to a "sell" as of September 5, with an average target price set at $23.00.

Investors Research Corp decreased its holdings in Banco De Chile (NYSE:BCH - Free Report) by 94.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,575 shares of the bank's stock after selling 24,938 shares during the period. Investors Research Corp's holdings in Banco De Chile were worth $48,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its stake in Banco De Chile by 53.8% in the first quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank's stock worth $5,747,000 after buying an additional 75,924 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in Banco De Chile by 289.5% in the first quarter. Cubist Systematic Strategies LLC now owns 86,678 shares of the bank's stock worth $2,296,000 after buying an additional 64,425 shares in the last quarter. Vident Advisory LLC raised its stake in Banco De Chile by 143.4% in the first quarter. Vident Advisory LLC now owns 78,240 shares of the bank's stock worth $2,073,000 after buying an additional 46,090 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in Banco De Chile by 104.6% in the first quarter. Itau Unibanco Holding S.A. now owns 437,338 shares of the bank's stock worth $11,054,000 after buying an additional 223,565 shares in the last quarter. Finally, Brooklyn Investment Group raised its stake in Banco De Chile by 823.3% in the first quarter. Brooklyn Investment Group now owns 1,385 shares of the bank's stock worth $37,000 after buying an additional 1,235 shares in the last quarter. Institutional investors own 1.24% of the company's stock.

Analyst Ratings Changes

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 equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $23.00.

Banco De Chile Price Performance

NYSE BCH opened at $29.97 on Monday. The firm's fifty day simple moving average is $28.79 and its two-hundred day simple moving average is $28.82. 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 12-month low of $22.06 and a 12-month high of $31.84. The firm has a market capitalization of $15.14 billion, a P/E ratio of 10.67, a P/E/G ratio of 2.22 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 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 business had revenue of $801.11 million for the quarter, compared to analyst estimates of $820.11 million. Analysts forecast that Banco De Chile will post 2.31 EPS for the current fiscal 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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