Banco de Chile (NYSE:BCH) Downgraded to Sell at StockNews.com

StockNews.com downgraded shares of Banco de Chile (NYSE:BCH) from a hold rating to a sell rating in a research report report published on Thursday morning.

Separately, JPMorgan Chase & Co. raised their price objective on Banco de Chile from $20.00 to $21.00 and gave the company a neutral rating in a report on Tuesday, April 16th.

Banco de Chile Trading Up 1.6 %

Shares of BCH stock opened at $23.27 on Thursday. The stock’s fifty day moving average price is $23.17 and its two-hundred day moving average price is $22.80. Banco de Chile has a fifty-two week low of $19.20 and a fifty-two week high of $24.79. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.97.

Banco de Chile (NYSE:BCH) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. Banco de Chile had a return on equity of 23.65% and a net margin of 29.41%. The company had revenue of $824.83 million for the quarter, compared to the consensus estimate of $818.94 million. On average, equities analysts forecast that Banco de Chile will post 2.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BCH. Bessemer Group Inc. acquired a new position in Banco de Chile during the 1st quarter worth about $6,189,000. Wellington Management Group LLP raised its position in shares of Banco de Chile by 143.6% in the 4th quarter. Wellington Management Group LLP now owns 280,716 shares of the bank’s stock worth $6,479,000 after acquiring an additional 165,467 shares in the last quarter. Alberta Investment Management Corp raised its position in shares of Banco de Chile by 215.2% in the 4th quarter. Alberta Investment Management Corp now owns 146,633 shares of the bank’s stock worth $3,384,000 after acquiring an additional 100,108 shares in the last quarter. FMR LLC raised its position in shares of Banco de Chile by 30.4% in the 3rd quarter. FMR LLC now owns 418,556 shares of the bank’s stock worth $8,455,000 after acquiring an additional 97,601 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Banco de Chile by 17.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,367 shares of the bank’s stock worth $2,614,000 after acquiring an additional 17,241 shares in the last quarter. 1.24% of the stock is owned by institutional investors and hedge funds.

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.