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

Key Points

• Banco de Chile shares broke above their 200-day moving average, reaching $41.42 before closing at $40.80, compared with a 200-day average of $39.38.
• Analyst sentiment remains cautious: four analysts rate the stock Hold and one rates it Sell, producing an average “Reduce” rating and a $40 price target. JPMorgan recently raised its target to $45 while maintaining a Neutral rating.
• The bank reported quarterly EPS of $0.84, revenue of approximately $999.95 million, a 21.10% return on equity and a 31.01% net margin. Institutional investors own 1.24% of the company.

Shares of Banco De Chile (NYSE:BCH - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $39.38 and traded as high as $41.42. Banco De Chile shares last traded at $40.80, with a volume of 83,338 shares trading hands.

Analyst Ratings Changes

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

Banco De Chile Stock Down 1.4%

The company has a market cap of $20.61 billion, a P/E ratio of 15.45 and a beta of 0.23. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.48 and a quick ratio of 1.48. The business's 50 day moving average price is $41.35 and its 200-day moving average price is $39.38.

Banco De Chile (NYSE:BCH - Get Free Report) last released its quarterly earnings results on Wednesday, July 1st. The bank reported $0.84 EPS for the quarter. Banco De Chile had a return on equity of 21.10% and a net margin of 31.01%.The business had revenue of $999.95 million for the quarter. On average, analysts anticipate that Banco De Chile will post 2.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Banco De Chile

A number of hedge funds have recently added to or reduced their stakes in BCH. Caitong International Asset Management Co. Ltd raised its stake in shares of Banco De Chile by 40,350.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 809 shares of the bank's stock worth $31,000 after acquiring an additional 807 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new stake in shares of Banco De Chile during the first quarter valued at approximately $53,000. EverSource Wealth Advisors LLC increased its holdings in shares of Banco De Chile by 94.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,944 shares of the bank's stock valued at $109,000 after purchasing an additional 1,433 shares in the last quarter. Savant Capital LLC acquired a new stake in shares of Banco De Chile in the fourth quarter valued at approximately $206,000. Finally, Sequoia Financial Advisors LLC bought a new position in Banco De Chile in the 1st quarter worth approximately $213,000. Institutional investors own 1.24% of the company's stock.

Banco De Chile Company Profile

Banco de Chile is a full-service financial institution headquartered in Santiago, Chile. Founded in 1893, it is one of the country's largest and longest-established banks and serves individuals, businesses, corporations and institutional clients.

The bank provides a broad range of banking and financial services, including checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, payment services, cash management, trade finance and foreign-exchange services.

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