Banco De Chile (NYSE:BCH) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• Banco de Chile shares rose above their 200-day moving average of $39.45, reaching $41.76 before closing at $41.53, up about 1%.
• Analyst sentiment remains cautious: four analysts rate the stock Hold and one rates it Sell, producing a consensus “Reduce” rating and a $40.00 price target. JPMorgan raised its target to $45, while UBS maintained a $39 target and Neutral rating.
• The bank reported quarterly EPS of $0.84 on $999.95 million in revenue, with a 31.01% net margin and 21.10% return on equity. Institutional investors own 1.24% of the company.

Banco De Chile (NYSE:BCH - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $39.45 and traded as high as $41.76. Banco De Chile shares last traded at $41.53, with a volume of 271,715 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently commented on BCH. Wall Street Zen upgraded Banco De Chile from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. UBS Group set a $39.00 target price on Banco De Chile and gave the company a "neutral" rating in a research report on Friday, May 22nd. Weiss Ratings upgraded Banco De Chile from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. upped their price target on Banco De Chile from $42.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $40.00.

Banco De Chile Stock Up 1.0%

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.94. The firm's 50 day simple moving average is $40.73 and its 200-day simple moving average is $39.45. The stock has a market capitalization of $20.98 billion, a price-to-earnings ratio of 15.73 and a beta of 0.23.

Banco De Chile (NYSE:BCH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The bank reported $0.84 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%. Equities analysts expect that Banco De Chile will post 2.87 earnings per share for the current fiscal year.

Institutional Trading of Banco De Chile

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its stake in Banco De Chile by 33,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank's stock valued at $26,000 after purchasing an additional 678 shares in the last quarter. SPX Gestao de Recursos Ltda bought a new stake in shares of Banco De Chile during the 1st quarter worth approximately $53,000. EverSource Wealth Advisors LLC raised its stake in shares of Banco De Chile by 161.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank's stock worth $46,000 after purchasing an additional 929 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Banco De Chile by 286.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank's stock valued at $66,000 after buying an additional 1,276 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Banco De Chile by 2,425.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank's stock valued at $76,000 after buying an additional 2,401 shares in the last quarter. Institutional investors own 1.24% of the company's stock.

Banco De Chile Company Profile

Banco de Chile NYSE: BCH is a leading Chilean financial institution headquartered in Santiago. Founded in 1893, the bank is one of the country's oldest and most established banking groups, serving a broad spectrum of individual, corporate and institutional clients. It is publicly listed and operates under Chilean banking regulations while participating in international capital markets.

The bank's core businesses include retail banking, commercial and corporate banking, and investment banking.

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