Banco de Chile (NYSE:BCH) Cut to “Sell” at StockNews.com

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

Separately, JPMorgan Chase & Co. boosted their price target on shares of Banco de Chile from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, January 24th.

Banco de Chile Stock Performance

Shares of NYSE:BCH opened at $25.89 on Wednesday. The company has a market cap of $13.08 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 6.08 and a beta of 0.44. The company has a 50-day moving average price of $24.39 and a 200-day moving average price of $24.21. The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 1.92. Banco de Chile has a 12 month low of $20.93 and a 12 month high of $26.96.

Hedge Funds Weigh In On Banco de Chile

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp increased its position in shares of Banco de Chile by 169.5% during the fourth quarter. Mackenzie Financial Corp now owns 29,891 shares of the bank’s stock valued at $678,000 after buying an additional 18,800 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Banco de Chile in the fourth quarter worth about $1,316,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Banco de Chile by 2.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 56,710 shares of the bank’s stock worth $1,286,000 after purchasing an additional 1,495 shares during the period. Silvercrest Asset Management Group LLC purchased a new stake in Banco de Chile in the fourth quarter worth about $11,494,000. Finally, Raiffeisen Bank International AG purchased a new stake in Banco de Chile in the fourth quarter worth about $151,000. Hedge funds and other institutional investors own 1.24% of the company’s stock.

About Banco de Chile

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.