Point72 Asset Management L.P. Makes New Investment in Banco de Chile (NYSE:BCH)

Point72 Asset Management L.P. acquired a new position in shares of Banco de Chile (NYSE:BCH - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,000 shares of the bank's stock, valued at approximately $522,000.

Several other hedge funds have also recently bought and sold shares of the stock. Signaturefd LLC raised its holdings in shares of Banco de Chile by 14.5% in the fourth quarter. Signaturefd LLC now owns 3,903 shares of the bank's stock valued at $89,000 after buying an additional 493 shares during the last quarter. R Squared Ltd acquired a new stake in Banco de Chile in the 4th quarter valued at about $94,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Banco de Chile by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,416 shares of the bank's stock worth $100,000 after acquiring an additional 1,291 shares during the last quarter. Atlas Capital Advisors Inc. lifted its position in shares of Banco de Chile by 30.7% during the fourth quarter. Atlas Capital Advisors Inc. now owns 6,324 shares of the bank's stock worth $143,000 after purchasing an additional 1,487 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in shares of Banco de Chile during the fourth quarter worth approximately $184,000. 1.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Banco de Chile from $21.00 to $23.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Wall Street Zen raised Banco de Chile from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd.

Banco de Chile Price Performance

Banco de Chile stock opened at $30.87 on Friday. The business's 50-day simple moving average is $28.46 and its 200 day simple moving average is $25.71. The stock has a market cap of $15.59 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 6.08 and a beta of 0.24. Banco de Chile has a 12-month low of $22.06 and a 12-month high of $31.84. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 1.92.

Banco de Chile Dividend Announcement

The company also recently declared an annual dividend, which was paid on Thursday, April 3rd. Investors of record on Friday, March 21st were issued a $2.1037 dividend. This represents a yield of 5.1%. The ex-dividend date was Friday, March 21st. Banco de Chile's dividend payout ratio is 54.90%.

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.

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