Zacks Investment Research upgraded shares of Banco de Chile (NYSE:BCH) from a sell rating to a hold rating in a research note published on Tuesday.
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. Deutsche Bank lowered Banco de Chile from a hold rating to a sell rating and set a $91.00 price target on the stock. in a research note on Wednesday, January 24th. ValuEngine lowered Banco de Chile from a buy rating to a hold rating in a research note on Wednesday, January 3rd. Bank of America lowered Banco de Chile from a neutral rating to an underperform rating in a research note on Thursday, January 18th. Finally, Credit Suisse Group reaffirmed a hold rating on shares of Banco de Chile in a research note on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of Hold and an average price target of $89.25.
Banco de Chile (NYSE:BCH) last released its quarterly earnings data on Friday, February 2nd. The bank reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.01. The company had revenue of $705.70 million for the quarter, compared to analyst estimates of $725.81 million. Banco de Chile had a return on equity of 19.47% and a net margin of 24.77%. equities analysts forecast that Banco de Chile will post 6.18 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Dean Capital Investments Management LLC acquired a new position in shares of Banco de Chile in the 4th quarter valued at $379,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Banco de Chile by 47.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 4,395 shares of the bank’s stock valued at $401,000 after buying an additional 1,411 shares during the period. Nordea Investment Management AB raised its holdings in shares of Banco de Chile by 31.7% in the 3rd quarter. Nordea Investment Management AB now owns 4,988 shares of the bank’s stock valued at $455,000 after buying an additional 1,200 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Banco de Chile by 119.2% in the 4th quarter. Alliancebernstein L.P. now owns 5,059 shares of the bank’s stock valued at $488,000 after buying an additional 2,751 shares during the period. Finally, KBC Group NV purchased a new stake in shares of Banco de Chile in the 4th quarter valued at $833,000. 1.30% of the stock is currently owned by institutional investors and hedge funds.
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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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