Vident Advisory LLC Increases Holdings in Banco De Chile $BCH

Key Points

• Vident Advisory LLC increased its holdings in Banco De Chile by 143.4% during the first quarter, now owning 78,240 shares valued at approximately $2.07 million.
• Several other institutional investors have also significantly increased their stakes in Banco De Chile, including Brooklyn Investment Group with an 823.3% increase.
• Banco De Chile received a rating upgrade from "sell" to "hold" by Wall Street Zen, with an average target price set at $23.00.

Vident Advisory LLC lifted its position in shares of Banco De Chile (NYSE:BCH - Free Report) by 143.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,240 shares of the bank's stock after acquiring an additional 46,090 shares during the quarter. Vident Advisory LLC's holdings in Banco De Chile were worth $2,073,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Brooklyn Investment Group lifted its stake in Banco De Chile by 823.3% in the 1st quarter. Brooklyn Investment Group now owns 1,385 shares of the bank's stock valued at $37,000 after buying an additional 1,235 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in Banco De Chile in the 4th quarter valued at approximately $151,000. Parallel Advisors LLC lifted its stake in Banco De Chile by 33.2% in the 1st quarter. Parallel Advisors LLC now owns 5,713 shares of the bank's stock valued at $151,000 after buying an additional 1,424 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in Banco De Chile in the 4th quarter valued at approximately $184,000. Finally, Yousif Capital Management LLC purchased a new stake in Banco De Chile in the 1st quarter valued at approximately $206,000. Hedge funds and other institutional investors own 1.24% of the company's stock.

Wall Street Analyst Weigh In

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

Banco De Chile Trading Up 0.9%

Shares of Banco De Chile stock opened at $28.73 on Tuesday. Banco De Chile has a fifty-two week low of $22.06 and a fifty-two week high of $31.84. The firm has a market cap of $14.51 billion, a PE ratio of 10.22, a P/E/G ratio of 2.12 and a beta of 0.30. The business's fifty day moving average is $28.79 and its two-hundred day moving average is $28.60. 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 issued its quarterly earnings results on Thursday, July 31st. The bank reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $801.11 million for the quarter, compared to analyst estimates of $820.11 million. 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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