Banco de Chile shares (NYSE: BCH – Get a rating) have received a consensus recommendation of “Hold” by the eight brokerages that cover the business, Market Beat Ratings reports. Five equity research analysts rated the stock with a hold rating and two gave the company a buy rating. The 12-month average price target among brokerages that have quoted the stock over the past year is $23.00.
Several research companies have recently commented on BCH. Scotiabank downgraded Banco de Chile’s rating from “sector outperformer” to “sector performer” in a Wednesday, Oct. 26 research note. Credit Suisse Group lowered its price target on Banco de Chile to $21.00 in a Monday, August 22 research report. To finish, StockNews.com upgraded Banco de Chile from a “buy” to a “hold” rating in a Monday, October 31 research report.
Bank of Chile shares down 1.6%
NYSE BCH opened at $18.77 on Thursday. The stock’s 50-day moving average price is $18.42 and its 200-day moving average price is $18.89. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt ratio of 3.02. Banco de Chile has a 52-week low of $15.60 and a 52-week high of $22.74. The company has a market capitalization of $9.48 billion, a P/E ratio of 5.11, a price-to-earnings growth ratio of 0.81 and a beta of 0.38.
Hedge funds weigh on Banco de Chile
Several institutional investors have recently increased or reduced their stake in the company. Renaissance Technologies LLC increased its stake in Banco de Chile by 2.4% during the second quarter. Renaissance Technologies LLC now owns 1,663,554 shares of the bank valued at $30,327,000 after purchasing an additional 38,500 shares last quarter. Dimensional Fund Advisors LP increased its holdings of Banco de Chile shares by 1.3% in Q1. Dimensional Fund Advisors LP now owns 597,813 shares of the bank worth $12,795,000 after purchasing an additional 7,462 shares during the period. FMR LLC increased its stake in Banco de Chile shares by 9.3% in the 2nd quarter. FMR LLC now owns 253,516 shares of the bank worth $4,621,000 after purchasing an additional 21,640 shares during the period. Banco BTG Pactual SA bought a new position in shares of Banco de Chile in Q1 worth approximately $3,268,000. Finally, Sagil Capital LLP bought a new position in shares of Banco de Chile in Q2 worth approximately $2,503,000. Hedge funds and other institutional investors own 1.10% of the company’s shares.
Banco de Chile Company Profile
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through retail banking, wholesale banking and cash and money market segments. The Company offers deposit products, such as checking accounts, current accounts, deposits and current accounts, savings accounts and term deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider Banco de Chile, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five actions that top analysts are quietly whispering to their clients to buy now before the market spreads…and Banco de Chile was not on the list.
While Banco de Chile currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.