Banco de Chile (NYSE:BCH) Price Target Raised to $23.00

Banco de Chile (NYSE:BCH) had its price objective lifted by equities researchers at JPMorgan Chase & Co. from $21.00 to $23.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 6.74% from the stock’s previous close.

Banco de Chile Stock Up 1.5 %

Shares of Banco de Chile stock traded up $0.37 on Friday, hitting $24.66. 35,118 shares of the company’s stock traded hands, compared to its average volume of 196,719. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.99. The firm’s 50-day moving average is $23.03 and its 200 day moving average is $23.84. The stock has a market cap of $12.46 billion, a P/E ratio of 8.84 and a beta of 0.44. Banco de Chile has a 52-week low of $20.93 and a 52-week high of $25.97.

Banco de Chile (NYSE:BCH) last released its earnings results on Tuesday, October 29th. The bank reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.03). Banco de Chile had a return on equity of 22.69% and a net margin of 30.00%. The company had revenue of $980.10 million during the quarter, compared to the consensus estimate of $796.96 million. Equities analysts anticipate that Banco de Chile will post 2.5 earnings per share for the current year.

Hedge Funds Weigh In On Banco de Chile

Several hedge funds and other institutional investors have recently made changes to their positions in BCH. State Street Corp lifted its holdings in Banco de Chile by 293.4% in the 3rd quarter. State Street Corp now owns 128,448 shares of the bank’s stock valued at $3,251,000 after acquiring an additional 95,797 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Banco de Chile by 18,631.0% during the third quarter. BNP Paribas Financial Markets now owns 21,728 shares of the bank’s stock worth $550,000 after acquiring an additional 21,612 shares in the last quarter. FMR LLC grew its position in Banco de Chile by 1.8% in the third quarter. FMR LLC now owns 858,889 shares of the bank’s stock worth $21,738,000 after acquiring an additional 15,312 shares in the last quarter. Walleye Capital LLC bought a new position in Banco de Chile during the third quarter valued at about $638,000. Finally, Barclays PLC boosted its stake in shares of Banco de Chile by 81.8% during the 3rd quarter. Barclays PLC now owns 11,151 shares of the bank’s stock worth $282,000 after acquiring an additional 5,016 shares in the last quarter. 1.24% of the stock is currently 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.