Banco De Chile (NYSE:BCH) Share Price Breaks Above 200 Day Moving Average - Time to Sell?

Key Points

• Banco De Chile shares moved above their 200-day moving average, reaching $39.70 before closing around $39.57, while remaining below the 50-day average of $40.84.
• Analyst sentiment remains cautious: four analysts rate the stock Hold and one rates it Sell, producing a consensus “Reduce” rating and a target price of $39.67—roughly in line with the current price.
• The bank reported quarterly EPS of $0.84, $999.95 million in revenue, a 31.01% net margin and 21.10% return on equity; institutional investors own 1.24% of outstanding shares.

Banco De Chile (NYSE:BCH - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $39.65 and traded as high as $39.70. Banco De Chile shares last traded at $39.5660, with a volume of 430,360 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded Banco De Chile from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. cut their price target on shares of Banco De Chile from $45.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, October 6th. Finally, Weiss Ratings lowered shares of Banco De Chile from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 9th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $39.67.

Banco De Chile Stock Down 0.3%

The stock's 50-day moving average price is $40.84 and its two-hundred day moving average price is $39.65. The stock has a market capitalization of $19.98 billion, a P/E ratio of 14.99 and a beta of 0.20. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.94.

Banco De Chile (NYSE:BCH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 1st. The bank reported $0.84 earnings per share (EPS) for the quarter. The company had revenue of $999.95 million during the quarter. Banco De Chile had a net margin of 31.01% and a return on equity of 21.10%. As a group, research analysts expect that Banco De Chile will post 2.80 earnings per share for the current fiscal year.

Institutional Trading of Banco De Chile

A number of large investors have recently bought and sold shares of the company. Quantinno Capital Management LP raised its stake in shares of Banco De Chile by 30.6% in the first quarter. Quantinno Capital Management LP now owns 72,354 shares of the bank's stock valued at $2,680,000 after buying an additional 16,932 shares during the period. ABS Direct Equity Fund LLC purchased a new position in shares of Banco De Chile during the 2nd quarter valued at $749,000. Advisors Preferred LLC grew its stake in shares of Banco De Chile by 278.9% during the 1st quarter. Advisors Preferred LLC now owns 27,706 shares of the bank's stock worth $1,026,000 after acquiring an additional 20,393 shares during the period. Hsbc Holdings PLC bought a new position in shares of Banco De Chile during the 4th quarter worth $878,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Banco De Chile by 17.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 69,482 shares of the bank's stock worth $2,763,000 after acquiring an additional 10,157 shares during the period. 1.24% of the stock is owned by hedge funds and other institutional investors.

Banco De Chile Company Profile

Banco de Chile is a full-service commercial bank headquartered in Santiago, Chile. Founded in 1893, it is one of the country's longstanding financial institutions and provides banking services to individuals, businesses, corporations and institutional clients throughout Chile.

The bank offers a broad range of products and services, including checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, payment services, foreign-exchange transactions, investment products and financial advisory services.

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