Wellington Management Group LLP Decreases Stake in Banco De Chile $BCH

Key Points

• Wellington Management Group LLP reduced its stake in Banco De Chile by 28.6%, resulting in the ownership of 127,004 shares valued at approximately $3.36 million.
• Other investors, including Brooklyn Investment Group and Raiffeisen Bank International AG, adjusted their positions in Banco De Chile, with Brooklyn increasing its stake by an impressive 823.3%.
• Banco De Chile's stock is currently rated as a "Hold" by analysts, with a consensus price target of $23.00 and a recent earnings report showing a slight beat on estimates.

Wellington Management Group LLP lessened its position in Banco De Chile (NYSE:BCH - Free Report) by 28.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,004 shares of the bank's stock after selling 50,823 shares during the quarter. Wellington Management Group LLP's holdings in Banco De Chile were worth $3,364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BCH. Brooklyn Investment Group boosted its position in Banco De Chile by 823.3% during the first 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 during the period. Ethic Inc. grew its position in Banco De Chile by 24.1% during the 1st quarter. Ethic Inc. now owns 40,757 shares of the bank's stock worth $1,089,000 after acquiring an additional 7,914 shares during the last quarter. Liontrust Investment Partners LLP grew its position in Banco De Chile by 25.0% during the 1st quarter. Liontrust Investment Partners LLP now owns 25,000 shares of the bank's stock worth $662,000 after acquiring an additional 5,000 shares during the last quarter. XTX Topco Ltd purchased a new position in Banco De Chile in the 1st quarter worth approximately $245,000. Finally, Advisors Preferred LLC bought a new stake in Banco De Chile in the first quarter valued at approximately $819,000. 1.24% of the stock is currently owned by hedge funds and other institutional investors.

Banco De Chile Stock Up 1.6%

Shares of NYSE BCH traded up $0.47 during midday trading on Wednesday, hitting $29.39. The stock had a trading volume of 90,130 shares, compared to its average volume of 290,343. The business's 50 day moving average is $28.78 and its 200-day moving average is $28.61. Banco De Chile has a 52 week low of $22.06 and a 52 week high of $31.84. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 2.09. The company has a market cap of $14.84 billion, a P/E ratio of 10.46, a PEG ratio of 2.12 and a beta of 0.30.

Banco De Chile (NYSE:BCH - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The bank reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. The firm had revenue of $801.11 million during the quarter, compared to analysts' expectations of $820.11 million. Banco De Chile had a net margin of 32.62% and a return on equity of 23.00%. As a group, analysts predict that Banco De Chile will post 2.31 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded 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.com, Banco De Chile presently has an average rating of "Hold" and an average target price of $23.00.

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.