Banco de Chile (NYSE:BCH) Sets New 12-Month High After Dividend Announcement

Banco de Chile (NYSE:BCH)’s share price reached a new 52-week high on Wednesday following a dividend announcement from the company. The stock traded as high as $27.22 and last traded at $27.17, with a volume of 239333 shares. The stock had previously closed at $26.53.

The newly announced dividend which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 21st will be issued a $2.1037 dividend. The ex-dividend date is Friday, March 21st. Banco de Chile’s dividend payout ratio is currently 49.00%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BCH. JPMorgan Chase & Co. increased their price target on shares of Banco de Chile from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. StockNews.com lowered Banco de Chile from a “hold” rating to a “sell” rating in a research report on Wednesday, February 26th.

Banco de Chile Trading Up 1.1 %

The company has a market capitalization of $13.77 billion, a P/E ratio of 10.86, a PEG ratio of 6.08 and a beta of 0.44. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.52 and a current ratio of 1.51. The business has a fifty day moving average of $24.71 and a 200-day moving average of $24.27.

Institutional Investors Weigh In On Banco de Chile

Several institutional investors have recently bought and sold shares of BCH. Signaturefd LLC grew its holdings in shares of Banco de Chile by 14.5% in the fourth quarter. Signaturefd LLC now owns 3,903 shares of the bank’s stock valued at $89,000 after acquiring an additional 493 shares in the last quarter. R Squared Ltd purchased a new stake in Banco de Chile during the fourth quarter worth about $94,000. Mirae Asset Global Investments Co. Ltd. raised its position in Banco de Chile by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,416 shares of the bank’s stock worth $100,000 after acquiring an additional 1,291 shares during the period. Atlas Capital Advisors Inc. boosted its stake in Banco de Chile by 30.7% in the fourth quarter. Atlas Capital Advisors Inc. now owns 6,324 shares of the bank’s stock valued at $143,000 after acquiring an additional 1,487 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of Banco de Chile during the 4th quarter valued at approximately $151,000. Institutional investors own 1.24% of the company’s stock.

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.