Banco De Chile (NYSE:BCH) Cut to “Sell” at Wall Street Zen

Banco De Chile (NYSE:BCH) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Banco De Chile from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, October 6th. Weiss Ratings lowered Banco De Chile from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $39.67.

Banco De Chile Stock Down 4.1%

Shares of NYSE BCH opened at $36.69 on Friday. The firm’s fifty day moving average is $40.42 and its 200 day moving average is $40.03. Banco De Chile has a 52 week low of $33.60 and a 52 week high of $46.77. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.94. The company has a market cap of $18.53 billion, a price-to-earnings ratio of 13.90 and a beta of 0.20.

Banco De Chile (NYSE:BCH) last announced its quarterly earnings results on Friday, October 30th. The bank reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.19. Banco De Chile had a net margin of 31.01% and a return on equity of 21.10%. The business had revenue of $778.47 million during the quarter, compared to analysts’ expectations of $778.06 million. On average, equities research analysts expect that Banco De Chile will post 2.80 earnings per share for the current year.

Institutional Investors Weigh In On Banco De Chile

A number of large investors have recently modified their holdings of the stock. TT International Asset Management LTD increased its position in shares of Banco De Chile by 2.7% during the third quarter. TT International Asset Management LTD now owns 512,948 shares of the bank’s stock valued at $20,523,000 after buying an additional 13,495 shares during the period. Quantinno Capital Management LP raised its stake in Banco De Chile by 30.6% in the first quarter. Quantinno Capital Management LP now owns 72,354 shares of the bank’s stock worth $2,680,000 after buying an additional 16,932 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Banco De Chile by 17.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 69,482 shares of the bank’s stock worth $2,763,000 after buying an additional 10,157 shares during the period. Advisors Preferred LLC lifted its holdings in Banco De Chile by 278.9% in the first quarter. Advisors Preferred LLC now owns 27,706 shares of the bank’s stock worth $1,026,000 after buying an additional 20,393 shares during the period. Finally, Novem Group lifted its holdings in Banco De Chile by 2.5% in the third quarter. Novem Group now owns 27,700 shares of the bank’s stock worth $1,108,000 after buying an additional 676 shares during the period. Institutional investors own 1.24% of the company’s stock.

About Banco De Chile

Banco de Chile is a full-service commercial bank headquartered in Santiago, Chile. Founded in 1893, it is one of the country’s longstanding financial institutions and provides banking services to individuals, businesses, corporations and institutional clients throughout Chile.

The bank offers a broad range of products and services, including checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, payment services, foreign-exchange transactions, investment products and financial advisory services.