Bank of Chile (NYSE: BCH – Get a rating) experienced a significant increase in short-term interest in the month of June. As of June 30, there was short interest totaling 266,400 shares, an increase of 78.2% from the total of 149,500 shares as of June 15. Based on an average trading volume of 164,600 shares, the day-to-cover ratio is currently 1.6 days.
Analyst upgrades and downgrades
Several equity analysts have commented on BCH shares. Grupo Santander upgraded Banco de Chile’s shares from a “neutral” rating to an “outperforming” rating and set a target price of $25.00 on the stock in a Thursday, May 19 report. Banco Santander upgraded Banco de Chile shares to a “buy” rating and set a price target of $25.00 on the stock in a Friday, May 20 research report. StockNews.com upgraded shares of Banco de Chile from a “hold” rating to a “buy” rating in a research report on Tuesday. Itau BBA Securities downgraded Banco de Chile shares from an “outperform” rating to a “market performer” rating and set a price target of $22.00 for the stock. in a research report on Tuesday, June 7. Finally, Itaú Unibanco downgraded Banco de Chile shares from an “outperform” rating to a “market perform” rating and set a price target of $22.00 for the stock. in a research report on Tuesday, June 7. Three research analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.67.
Banco de Chile trades up 8.2%
Shares of NYSE:BCH traded at $1.32 during Friday’s midday session, hitting $17.33. 294,061 shares of the company were traded, against an average volume of 165,839. The company has a market capitalization of $8.75 billion, a price-earnings ratio of 6.21, a PEG ratio of 0.68 and a beta of 0.37. The company’s fifty-day moving average price is $19.11 and its 200-day moving average price is $19.92. The company has a debt ratio of 3.12, a quick ratio of 1.53 and a current ratio of 1.53. Banco de Chile has a 12-month low of $15.60 and a 12-month high of $22.74.
Bank of Chile (NYSE: BCH – Get a rating) last released its quarterly results on Friday, April 29. The bank reported EPS of $0.69 for the quarter, beating analyst consensus estimates of $0.60 by $0.09. The company posted revenue of $560.31 million for the quarter, versus analyst estimates of $742.05 million. Banco de Chile had a net margin of 40.44% and a return on equity of 26.29%. On average, research analysts predict that Banco de Chile will post an EPS of 2.31 for the current financial year.
Hedge funds weigh on Banco de Chile
Hedge funds have recently been buying and selling shares of the company. Itau Unibanco Holding SA bought a new stake in Banco de Chile in the fourth quarter valued at $7,571,000. Investors Research Corp increased its stake in Banco de Chile by 18.7% in the first quarter. Investors Research Corp now owns 48,025 shares of the bank valued at $1,029,000 after buying an additional 7,550 shares last quarter. Veriti Management LLC increased its stake in Banco de Chile by 13.7% in the first quarter. Veriti Management LLC now owns 69,365 shares of the bank valued at $1,487,000 after buying 8,346 additional shares last quarter. Dimensional Fund Advisors LP increased its stake in Banco de Chile by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 590,351 shares of the bank valued at $9,281,000 after buying an additional 22,056 shares last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Banco de Chile in the second quarter valued at $219,000. Institutional investors hold 0.89% of the company’s shares.
About Banco de Chile
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.
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