Truffle Hound Capital LLC Trims Position in Banco De Chile (NYSE:BCH)

Key Points

• Truffle Hound Capital LLC reduced its stake in Banco De Chile by 10%, bringing its holdings to 180,000 shares, which represent about 1.7% of the firm's overall portfolio.
• Banco De Chile's latest earnings report showed a profit of $0.64 EPS, slightly beating analyst expectations, despite revenues falling short of estimates at $801.11 million.
• Recent analyst upgrades include Wall Street Zen raising Banco De Chile's rating from "sell" to "hold," indicating improved sentiment among analysts.

Truffle Hound Capital LLC cut its stake in Banco De Chile (NYSE:BCH - Free Report) by 10.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,000 shares of the bank's stock after selling 20,000 shares during the period. Banco De Chile comprises about 1.7% of Truffle Hound Capital LLC's investment portfolio, making the stock its 14th largest position. Truffle Hound Capital LLC's holdings in Banco De Chile were worth $4,768,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in BCH. Silvercrest Asset Management Group LLC purchased a new stake in shares of Banco De Chile during the fourth quarter valued at about $11,494,000. Wellington Management Group LLP purchased a new stake in shares of Banco De Chile during the fourth quarter valued at about $4,033,000. D. E. Shaw & Co. Inc. lifted its position in shares of Banco De Chile by 863.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 132,991 shares of the bank's stock valued at $3,016,000 after buying an additional 119,187 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Banco De Chile by 36.2% during the fourth quarter. Marshall Wace LLP now owns 440,004 shares of the bank's stock valued at $9,979,000 after buying an additional 117,045 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its position in shares of Banco De Chile by 105.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 213,773 shares of the bank's stock valued at $4,848,000 after purchasing an additional 109,700 shares during the last quarter. 1.24% of the stock is currently owned by institutional investors.

Banco De Chile Stock Performance

NYSE:BCH traded up $0.20 during midday trading on Tuesday, hitting $28.14. The company's stock had a trading volume of 120,403 shares, compared to its average volume of 299,002. Banco De Chile has a fifty-two week low of $22.06 and a fifty-two week high of $31.84. The firm's 50 day moving average is $29.36 and its 200-day moving average is $28.08. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market cap of $14.21 billion, a P/E ratio of 10.01, a P/E/G ratio of 2.05 and a beta of 0.24.

Banco De Chile (NYSE:BCH - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The bank reported $0.64 EPS for the quarter, topping 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 business had revenue of $801.11 million for the quarter, compared to analysts' expectations of $820.11 million. Equities analysts anticipate that Banco De Chile will post 2.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Banco De Chile from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd.

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.