Banco de Chile (NYSE:BCH) Price Target Raised to $21.00 at JPMorgan Chase & Co.

Banco de Chile (NYSE:BCH) had its price objective boosted by JPMorgan Chase & Co. from $20.00 to $21.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a neutral rating on the bank’s stock.

Separately, HSBC cut shares of Banco de Chile from a buy rating to a hold rating in a report on Tuesday, December 19th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Banco de Chile presently has a consensus rating of Hold and a consensus price target of $22.00.

Banco de Chile Trading Up 1.0 %

NYSE BCH opened at $22.05 on Tuesday. The company’s fifty day simple moving average is $22.64 and its 200-day simple moving average is $21.99. Banco de Chile has a 52 week low of $19.20 and a 52 week high of $24.10. The company has a current ratio of 1.56, a quick ratio of 1.59 and a debt-to-equity ratio of 2.81. The stock has a market cap of $10.89 billion, a P/E ratio of 7.35 and a beta of 0.40.

Banco de Chile (NYSE:BCH) last posted its earnings results on Monday, January 29th. The bank reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.15. Banco de Chile had a net margin of 28.62% and a return on equity of 25.45%. The business had revenue of $987.90 million for the quarter, compared to analysts’ expectations of $872.49 million. Equities research analysts predict that Banco de Chile will post 2.13 EPS for the current fiscal year.

Banco de Chile Announces Dividend

The business also recently declared a Variable dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 22nd were issued a $1.09 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a yield of 4.8%. Banco de Chile’s dividend payout ratio is presently 41.33%.

Institutional Trading of Banco de Chile

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Banco de Chile by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 747,741 shares of the bank’s stock valued at $17,258,000 after acquiring an additional 16,724 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Banco de Chile by 252.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 685,643 shares of the bank’s stock valued at $13,384,000 after purchasing an additional 491,004 shares during the last quarter. FMR LLC increased its stake in Banco de Chile by 30.4% during the third quarter. FMR LLC now owns 418,556 shares of the bank’s stock valued at $8,455,000 after purchasing an additional 97,601 shares during the last quarter. Morgan Stanley increased its stake in Banco de Chile by 14.6% during the fourth quarter. Morgan Stanley now owns 366,782 shares of the bank’s stock valued at $7,636,000 after purchasing an additional 46,819 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Banco de Chile by 17.7% during the first quarter. BlackRock Inc. now owns 340,008 shares of the bank’s stock valued at $6,637,000 after purchasing an additional 51,051 shares during the last quarter. 1.24% of the stock is 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.