MGO One Seven LLC Acquires Shares of 12,576 Banco De Chile $BCH

Key Points

• MGO One Seven LLC has acquired 12,576 shares of Banco De Chile, valued at approximately $383,000, during the second quarter.
• Several institutional investors, including Itau Unibanco and Goldman Sachs, have significantly increased their positions in Banco De Chile in recent months.
• Analysts have given Banco De Chile an average rating of "Hold" with a target price increase from $30.00 to $33.00, indicating a cautious outlook on the stock's performance.

MGO One Seven LLC acquired a new position in shares of Banco De Chile (NYSE:BCH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,576 shares of the bank's stock, valued at approximately $383,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. boosted its position in shares of Banco De Chile by 104.6% in the 1st quarter. Itau Unibanco Holding S.A. now owns 437,338 shares of the bank's stock valued at $11,054,000 after purchasing an additional 223,565 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Banco De Chile by 3.2% in the first quarter. Bessemer Group Inc. now owns 401,760 shares of the bank's stock valued at $10,642,000 after acquiring an additional 12,599 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Banco De Chile by 53.8% during the first quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank's stock worth $5,747,000 after acquiring an additional 75,924 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of Banco De Chile in the 2nd quarter valued at $3,454,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Banco De Chile by 289.5% in the 1st quarter. Cubist Systematic Strategies LLC now owns 86,678 shares of the bank's stock valued at $2,296,000 after acquiring an additional 64,425 shares during the period. 1.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BCH shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Banco De Chile in a research note on Wednesday, October 8th. Wall Street Zen raised Banco De Chile from a "sell" rating to a "hold" rating in a report on Saturday, September 20th. Finally, JPMorgan Chase & Co. upped their price objective on Banco De Chile from $30.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $33.00.

Banco De Chile Stock Performance

Shares of Banco De Chile stock opened at $32.77 on Friday. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 2.42 and a beta of 0.26. Banco De Chile has a 52-week low of $22.06 and a 52-week high of $33.28. The company's 50-day simple moving average is $29.90 and its 200-day simple moving average is $29.42. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 2.09.

Banco De Chile (NYSE:BCH - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The bank reported $0.64 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $820.11 million. As a group, equities research analysts anticipate that Banco De Chile will post 2.31 earnings per share 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.

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