Itau Unibanco Holding S.A. Grows Position in Banco De Chile $BCH

Key Points

• Itau Unibanco Holding S.A. significantly increased its stake in Banco De Chile by acquiring 223,565 shares, raising its total ownership to 437,338 shares worth approximately $11 million.
• Several other institutional investors also expanded their holdings in Banco De Chile, with Brooklyn Investment Group boosting its stake by 823.3% during the first quarter.
• Banco De Chile reported earnings of $0.64 per share, exceeding expectations, but its revenue fell short of analyst forecasts at $801.11 million.

Itau Unibanco Holding S.A. boosted its stake in shares of Banco De Chile (NYSE:BCH - Free Report) by 104.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 437,338 shares of the bank's stock after buying an additional 223,565 shares during the period. Itau Unibanco Holding S.A. owned approximately 0.09% of Banco De Chile worth $11,054,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BCH. Silvercrest Asset Management Group LLC acquired a new stake in Banco De Chile during the 4th quarter worth approximately $11,494,000. Wellington Management Group LLP acquired a new stake in Banco De Chile during the 4th quarter worth approximately $4,033,000. D. E. Shaw & Co. Inc. raised its holdings in Banco De Chile by 863.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 132,991 shares of the bank's stock worth $3,016,000 after buying an additional 119,187 shares during the period. Bank of America Corp DE raised its holdings in Banco De Chile by 231.9% during the 4th quarter. Bank of America Corp DE now owns 92,323 shares of the bank's stock worth $2,094,000 after buying an additional 64,510 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Banco De Chile during the 4th quarter worth approximately $1,316,000. 1.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Banco De Chile from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $23.00.

Banco De Chile Stock Down 0.1%

Shares of BCH traded down $0.02 during trading hours on Tuesday, reaching $28.71. The stock had a trading volume of 69,512 shares, compared to its average volume of 290,850. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 2.12 and a beta of 0.30. The firm has a 50-day simple moving average of $28.79 and a 200 day simple moving average of $28.60. 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.

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, beating analysts' consensus estimates of $0.63 by $0.01. The business had revenue of $801.11 million during the quarter, compared to analyst estimates 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 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.