Rhumbline Advisers Sells 9,760 Shares of Banco De Chile $BCH

Key Points

• Rhumbline Advisers sold 9,760 shares of Banco De Chile, reducing its stake by 29.5%, now owning 23,309 shares valued at $617,000.
• Institutional investments in Banco De Chile have increased significantly, with Goldman Sachs Group Inc. boosting its stake by 53.8% during the same quarter.
• Banco De Chile reported earnings per share of $0.64, exceeding analyst expectations, with a return on equity of 23.00% and a net margin of 32.62%.

Rhumbline Advisers lessened its stake in shares of Banco De Chile (NYSE:BCH - Free Report) by 29.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,309 shares of the bank's stock after selling 9,760 shares during the quarter. Rhumbline Advisers' holdings in Banco De Chile were worth $617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its position in Banco De Chile by 53.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank's stock valued at $5,747,000 after acquiring an additional 75,924 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position 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 worth $2,296,000 after purchasing an additional 64,425 shares in the last quarter. Vident Advisory LLC boosted its position in shares of Banco De Chile by 143.4% in the 1st quarter. Vident Advisory LLC now owns 78,240 shares of the bank's stock worth $2,073,000 after purchasing an additional 46,090 shares in the last quarter. 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 worth $11,054,000 after purchasing an additional 223,565 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of Banco De Chile by 823.3% in the 1st quarter. Brooklyn Investment Group now owns 1,385 shares of the bank's stock worth $37,000 after purchasing an additional 1,235 shares in the last quarter. Institutional investors own 1.24% of the company's stock.

Banco De Chile Stock Performance

NYSE BCH opened at $29.71 on Tuesday. The stock has a 50-day simple moving average of $28.86 and a two-hundred day simple moving average of $28.95. The firm has a market capitalization of $15.01 billion, a P/E ratio of 10.57, a PEG ratio of 2.17 and a beta of 0.30. Banco De Chile has a fifty-two week low of $22.06 and a fifty-two week high of $31.84. 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 (NYSE:BCH - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The bank reported $0.64 earnings per share for the quarter, beating 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 firm had revenue of $801.11 million during the quarter, compared to analyst estimates of $820.11 million. On average, equities analysts forecast that Banco De Chile will post 2.31 earnings per share for the current year.

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 investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $23.00.

Banco De Chile 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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