Banco de Chile (NYSE:BCH) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a report issued on Tuesday, Zacks.com reports.
According to Zacks, "Banco De Chile is principally engaged in commercial banking in Chile, providing general banking services to a diverse customer base that includes large corporations, small and mid-sized businesses and individuals. "
A number of other research analysts have also recently issued reports on BCH. TheStreet upgraded shares of Banco de Chile from a "d+" rating to a "c-" rating in a report on Wednesday, January 27th. Itau BBA Securities upgraded shares of Banco de Chile from a "market perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a report on Tuesday, November 17th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of "Buy" and an average target price of $24.00.
Shares of NYSE BCH traded down $0.01 during mid-day trading on Tuesday, reaching $22.52. 4,602 shares of the company's stock traded hands, compared to its average volume of 102,261. The stock has a market cap of $11.37 billion, a P/E ratio of 18.31, a PEG ratio of 2.87 and a beta of 0.52. The business has a 50-day simple moving average of $21.53 and a 200 day simple moving average of $18.49. Banco de Chile has a 1-year low of $12.50 and a 1-year high of $23.19. The company has a debt-to-equity ratio of 3.46, a current ratio of 1.44 and a quick ratio of 1.44.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN bought a new position in shares of Banco de Chile during the fourth quarter valued at about $27,000. Panagora Asset Management Inc. lifted its position in shares of Banco de Chile by 37.8% during the fourth quarter. Panagora Asset Management Inc. now owns 5,328 shares of the bank's stock valued at $109,000 after purchasing an additional 1,462 shares in the last quarter. Citigroup Inc. lifted its position in shares of Banco de Chile by 10.8% during the fourth quarter. Citigroup Inc. now owns 5,754 shares of the bank's stock valued at $117,000 after purchasing an additional 561 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in shares of Banco de Chile by 19.2% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 10,264 shares of the bank's stock valued at $209,000 after purchasing an additional 1,655 shares in the last quarter. Finally, Profund Advisors LLC lifted its position in shares of Banco de Chile by 15.7% during the fourth quarter. Profund Advisors LLC now owns 14,184 shares of the bank's stock valued at $289,000 after purchasing an additional 1,921 shares in the last quarter.
Banco de Chile Company Profile
Banco de Chile, together with its subsidiaries, provides various banking products and services to customers in Chile. The company operates through four segments: Retail, Wholesale, Treasury, and Subsidiaries. It offers checking accounts, consumer loans, commercial loans, credit cards, credit lines, and mortgage loans.
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