Zacks Investment Research upgraded shares of Banco de Chile (NYSE:BCH) from a hold rating to a buy rating in a research note published on Tuesday. Zacks Investment Research currently has $114.00 price objective on the bank’s stock.
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 commented on BCH. Bank of America lowered shares of Banco de Chile from a neutral rating to an underperform rating in a report on Thursday, January 18th. ValuEngine upgraded shares of Banco de Chile from a buy rating to a strong-buy rating in a report on Tuesday, March 13th. Deutsche Bank lowered shares of Banco de Chile from a hold rating to a sell rating and set a $91.00 price objective for the company. in a report on Wednesday, January 24th. Finally, Credit Suisse Group restated a hold rating on shares of Banco de Chile in a report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. Banco de Chile presently has a consensus rating of Hold and a consensus target price of $93.25.
Shares of Banco de Chile (NYSE:BCH) opened at $98.75 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 2.47. Banco de Chile has a 1-year low of $71.45 and a 1-year high of $106.50. The company has a market cap of $16,947.28, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.08 and a beta of 0.43.
Banco de Chile (NYSE:BCH) last issued its quarterly earnings data on Friday, February 2nd. The bank reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.01. Banco de Chile had a net margin of 24.77% and a return on equity of 19.47%. The business had revenue of $705.70 million during the quarter, compared to analyst estimates of $725.81 million. equities analysts anticipate that Banco de Chile will post 6.09 EPS for the current fiscal year.
The firm also recently announced an annual dividend, which will be paid on Thursday, April 5th. Shareholders of record on Thursday, March 29th will be paid a dividend of $3.0988 per share. This is an increase from Banco de Chile’s previous annual dividend of $1.76. The ex-dividend date is Wednesday, March 28th. This represents a dividend yield of 3.06%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Aperio Group LLC increased its stake in shares of Banco de Chile by 1.9% during the fourth quarter. Aperio Group LLC now owns 132,363 shares of the bank’s stock valued at $12,777,000 after purchasing an additional 2,474 shares in the last quarter. KBC Group NV bought a new position in shares of Banco de Chile during the fourth quarter valued at approximately $833,000. Northern Trust Corp increased its stake in shares of Banco de Chile by 4.7% during the second quarter. Northern Trust Corp now owns 39,397 shares of the bank’s stock valued at $3,069,000 after purchasing an additional 1,785 shares in the last quarter. Gilman Hill Asset Management LLC increased its stake in shares of Banco de Chile by 15.2% during the fourth quarter. Gilman Hill Asset Management LLC now owns 8,814 shares of the bank’s stock valued at $851,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Banco de Chile by 10.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 42,670 shares of the bank’s stock valued at $3,891,000 after purchasing an additional 3,923 shares in the last quarter. 1.30% of the stock is owned by institutional investors and hedge funds.
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About Banco de Chile
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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