Banco De Chile (NYSE:BCH) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Banco De Chile (NYSE:BCH) from a buy rating to a hold rating in a research report report published on Thursday, November 16th.

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. “

Several other equities analysts also recently commented on the stock. Scotiabank downgraded shares of Banco De Chile from an outperform rating to a sector perform rating in a report on Tuesday, October 24th. Santander upgraded shares of Banco De Chile from a hold rating to a buy rating in a report on Thursday, September 21st. J P Morgan Chase & Co downgraded shares of Banco De Chile from an overweight rating to a neutral rating and set a $92.00 price target on the stock. in a report on Wednesday, September 6th. ValuEngine upgraded shares of Banco De Chile from a hold rating to a buy rating in a report on Friday, September 1st. Finally, BidaskClub raised shares of Banco De Chile from a buy rating to a strong-buy rating in a research report on Wednesday, August 16th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Banco De Chile has a consensus rating of Buy and an average target price of $88.67.

Banco De Chile (BCH) traded down $1.00 during trading on Thursday, hitting $81.40. 14,799 shares of the stock were exchanged, compared to its average volume of 42,979. Banco De Chile has a 12-month low of $68.12 and a 12-month high of $95.80. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.39 and a current ratio of 1.42. The company has a market cap of $13,550.00, a P/E ratio of 16.22, a PEG ratio of 1.84 and a beta of 0.43.

Institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its position in Banco De Chile by 2.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,880 shares of the bank’s stock valued at $161,000 after buying an additional 41 shares during the period. Global X Management Co. LLC lifted its position in shares of Banco De Chile by 5.7% in the 2nd quarter. Global X Management Co. LLC now owns 2,042 shares of the bank’s stock worth $159,000 after purchasing an additional 111 shares during the period. Naples Global Advisors LLC lifted its position in shares of Banco De Chile by 2.8% in the 2nd quarter. Naples Global Advisors LLC now owns 3,295 shares of the bank’s stock worth $257,000 after purchasing an additional 90 shares during the period. Nordea Investment Management AB lifted its position in shares of Banco De Chile by 140.2% in the 2nd quarter. Nordea Investment Management AB now owns 3,788 shares of the bank’s stock worth $295,000 after purchasing an additional 2,211 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Banco De Chile by 47.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 4,395 shares of the bank’s stock worth $401,000 after purchasing an additional 1,411 shares during the period. 1.42% of the stock is owned by institutional investors.

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