Banco De Chile (BCH) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Banco De Chile (NYSE:BCH) from a sell rating to a hold rating in a report released on Tuesday morning.

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 brokerages have also recently issued reports on BCH. ValuEngine cut Banco De Chile from a buy rating to a hold rating in a research report on Wednesday, January 3rd. Credit Suisse Group reaffirmed a hold rating on shares of Banco De Chile in a research report on Friday, December 22nd. Scotiabank cut Banco De Chile from an outperform rating to a sector perform rating in a research report on Tuesday, October 24th. Finally, Santander raised Banco De Chile from a hold rating to a buy rating in a research report on Thursday, September 21st. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $88.67.

Shares of Banco De Chile (NYSE BCH) traded down $0.57 during trading on Tuesday, reaching $102.14. The company’s stock had a trading volume of 21,000 shares, compared to its average volume of 24,360. The company has a quick ratio of 1.39, a current ratio of 1.42 and a debt-to-equity ratio of 2.50. Banco De Chile has a 12-month low of $69.48 and a 12-month high of $103.89. The firm has a market capitalization of $17,162.84, a PE ratio of 19.96, a PEG ratio of 2.02 and a beta of 0.41.

Banco De Chile (NYSE:BCH) last announced its quarterly earnings data on Thursday, November 2nd. The bank reported $1.26 EPS for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.11). Banco De Chile had a net margin of 24.17% and a return on equity of 18.18%. analysts expect that Banco De Chile will post 5.63 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in BCH. Nordea Investment Management AB boosted its position in shares of Banco De Chile by 140.2% during the second quarter. Nordea Investment Management AB now owns 3,788 shares of the bank’s stock valued at $295,000 after buying an additional 2,211 shares during the last quarter. Banco BTG Pactual S.A. boosted its position in Banco De Chile by 69.0% in the second quarter. Banco BTG Pactual S.A. now owns 4,900 shares of the bank’s stock worth $382,000 after purchasing an additional 2,000 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Banco De Chile by 47.3% in the third 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 last quarter. Stifel Financial Corp boosted its position in Banco De Chile by 4.5% in the second quarter. Stifel Financial Corp now owns 9,100 shares of the bank’s stock worth $706,000 after purchasing an additional 391 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in Banco De Chile in the third quarter worth $976,000. 1.41% of the stock is currently owned by institutional investors.

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Banco De Chile Company Profile

Banco de Chile is a full service financial institution, which is engaged in providing credit and non-credit products and services in Chile. The Bank offers a range of banking services to its customers, ranging from individuals to corporations. The Bank’s segments include Retail, which focuses on individuals and small and medium-sized companies, where the product offering focuses on consumer loans, commercial loans, checking accounts, credit cards, credit lines and mortgage loans; Wholesale, which focuses on corporate clients and companies, where the product offering focuses on commercial loans, checking accounts and liquidity management services, debt instruments, foreign trade, derivative contracts and leases; Treasury, which includes the associated revenues to the management of the investment portfolio and the business of financial transactions and currency trading, and Subsidiaries, which corresponds to companies and corporations controlled by the Bank.

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