Bank of Chile (NYSE: BCH – Get a rating) benefited from a sharp fall in short-term interest rates in April. As of April 30, there was short interest totaling 503,800 shares, down 22.3% from the April 15 total of 648,200 shares. Based on an average trading volume of 118,100 shares, the day-to-cover ratio is currently 4.3 days.
Shares of NYSE BCH opened at $19.29 on Monday. The company has a market capitalization of $9.74 billion, a PE ratio of 11.30, a growth price-earnings ratio of 0.87 and a beta of 0.31. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt ratio of 3.12. Banco de Chile has a 1-year low of $15.60 and a 1-year high of $22.74. The company’s 50-day moving average is $20.99 and its 200-day moving average is $19.63.
Bank of Chile (NYSE: BCH – Get a rating) last released its quarterly earnings data on Friday, April 29. The bank reported earnings per share of $0.69 for the quarter, beating the consensus estimate of $0.60 by $0.09. Banco de Chile had a net margin of 24.90% and a return on equity of 15.65%. The company posted revenue of $560.31 million for the quarter, versus analyst estimates of $742.05 million. As a group, equity research analysts expect Banco de Chile to post earnings per share of 2.14 for the current fiscal year.
A number of institutional investors have recently increased or reduced their stake in BCH. BNP Paribas Arbitrage SA acquired a new stake in Banco de Chile during the 4th quarter for a value of approximately $69,000. Envestnet Asset Management Inc. acquired a new stake in Banco de Chile during Q4 valued at approximately $159,000. Profund Advisors LLC acquired a new stake in Banco de Chile during the 4th quarter for a value of approximately $174,000. DekaBank Deutsche Girozentrale increased its stake in Banco de Chile by 16.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 13,925 shares in the bank worth $212,000 after purchasing an additional 2,000 shares during the period. Finally, Whittier Trust Co. acquired a new stake in Banco de Chile during the 1st quarter for a value of approximately $230,000. 0.89% of the shares are currently held by institutional investors and hedge funds.
BCH has been the subject of several research reports. Scotiabank upgraded shares of Banco de Chile from an “sector performance” rating to an “outperform” rating in a Wednesday, April 13 research report. Zacks Investment Research upgraded Banco de Chile shares from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a Tuesday, April 12 research report. StockNews.com launched coverage on Banco de Chile shares in a research report on Thursday, March 31. They issued a “holding” rating for the company. Credit Suisse Group has upgraded Banco de Chile shares from a ‘neutral’ rating to an ‘outperforming’ rating and raised its price target for the company from $18.00 to $25.00 in a research report Wednesday, March 2. Finally, JPMorgan Chase & Co. downgraded Banco de Chile’s shares from an “overweight” rating to a “neutral” rating and set a price target of $23.00 for the company. in a research report on Thursday, February 17. Two investment analysts gave the stock a hold rating and three gave the company a buy rating. According to MarketBeat.com, Banco de Chile has an average rating of “Buy” and an average target price of $23.67.
Banco de Chile Company Profile (Get a rating)
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through Retail, Wholesale and Treasury 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.
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