Banco de Chile (NYSE:BCH) Share Price Passes Above 200-Day Moving Average of $22.80

Banco de Chile (NYSE:BCH)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $22.80 and traded as high as $23.17. Banco de Chile shares last traded at $22.91, with a volume of 146,964 shares trading hands.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their price objective on Banco de Chile from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th.

Banco de Chile Stock Performance

The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.97. The business has a fifty day simple moving average of $23.16 and a two-hundred day simple moving average of $22.80.

Banco de Chile (NYSE:BCH) last issued its earnings results on Tuesday, April 30th. The bank reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $824.83 million during the quarter, compared to analysts’ expectations of $818.94 million. Banco de Chile had a net margin of 29.41% and a return on equity of 23.65%. Sell-side analysts expect that Banco de Chile will post 2.15 EPS for the current year.

Institutional Investors Weigh In On Banco de Chile

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in shares of Banco de Chile in the first quarter valued at about $336,000. Advisors Asset Management Inc. boosted its holdings in Banco de Chile by 21.1% in the 1st quarter. Advisors Asset Management Inc. now owns 44,380 shares of the bank’s stock valued at $988,000 after purchasing an additional 7,719 shares during the last quarter. Freestone Capital Holdings LLC purchased a new stake in shares of Banco de Chile in the 1st quarter valued at approximately $312,000. Bessemer Group Inc. acquired a new stake in shares of Banco de Chile during the 1st quarter worth approximately $6,189,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Banco de Chile by 569.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,279 shares of the bank’s stock valued at $28,000 after buying an additional 1,088 shares during the period. Institutional investors and hedge funds own 1.24% of the company’s stock.

Banco de Chile Company Profile

Banco de Chile, together with its subsidiaries, provides various banking services to customers in Chile. The company offers checking and debit accounts, debit and credit cards, and lines of credit; mortgage, consume, commercial, general purpose mortgage loans, and finance leases; and factoring services, mutual fund management, stock brokerage, foreign trade, payments and collections, insurance brokerage, including life and general insurance, as well as time deposits, savings instruments, and foreign currency services through branches under the Banco de Chile and Banco Edwards brands.