Banco de Chile (NYSE:BCH) Hits New 52-Week High – Here’s What Happened

Shares of Banco de Chile (NYSE:BCH) hit a new 52-week high during trading on Monday . The stock traded as high as $25.97 and last traded at $25.92, with a volume of 29482 shares. The stock had previously closed at $25.74.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BCH shares. StockNews.com upgraded shares of Banco de Chile from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. upped their target price on 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

The company has a debt-to-equity ratio of 1.99, a current ratio of 1.52 and a quick ratio of 1.52. The stock’s 50-day moving average price is $23.56 and its 200-day moving average price is $23.95. The company has a market cap of $13.33 billion, a P/E ratio of 9.44 and a beta of 0.44.

Hedge Funds Weigh In On Banco de Chile

Hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its stake in Banco de Chile by 23.6% during the fourth quarter. Baillie Gifford & Co. now owns 3,236,373 shares of the bank’s stock worth $73,401,000 after purchasing an additional 618,891 shares during the last quarter. Truffle Hound Capital LLC acquired a new position in shares of Banco de Chile during the 4th quarter worth $4,536,000. Alberta Investment Management Corp bought a new stake in shares of Banco de Chile during the 4th quarter worth $4,033,000. Itau Unibanco Holding S.A. acquired a new stake in Banco de Chile in the third quarter valued at about $2,411,000. Finally, State Street Corp boosted its stake in Banco de Chile by 293.4% in the third quarter. State Street Corp now owns 128,448 shares of the bank’s stock valued at $3,251,000 after buying an additional 95,797 shares in the last quarter. 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.