Banco De Chile (NYSE:BCH) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Banco De Chile (NYSE:BCH) issued its quarterly earnings data on Tuesday. The bank reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.02), FiscalAI reports. Banco De Chile had a net margin of 32.87% and a return on equity of 23.25%. The firm had revenue of $826.07 million for the quarter, compared to analyst estimates of $878.92 million.

Banco De Chile Price Performance

BCH stock opened at $45.44 on Thursday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 2.00. Banco De Chile has a fifty-two week low of $23.66 and a fifty-two week high of $46.77. The business has a 50-day moving average of $39.92 and a 200-day moving average of $34.31.

Hedge Funds Weigh In On Banco De Chile

A number of large investors have recently bought and sold shares of BCH. EverSource Wealth Advisors LLC raised its holdings in shares of Banco De Chile by 161.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock valued at $46,000 after purchasing an additional 929 shares during the last quarter. Hantz Financial Services Inc. grew its position in Banco De Chile by 276.2% in the second quarter. Hantz Financial Services Inc. now owns 2,513 shares of the bank’s stock valued at $76,000 after purchasing an additional 1,845 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Banco De Chile by 2,425.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank’s stock valued at $76,000 after buying an additional 2,401 shares during the last quarter. Focus Partners Wealth bought a new stake in Banco De Chile during the 3rd quarter worth about $145,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Banco De Chile by 62.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,245 shares of the bank’s stock worth $159,000 after buying an additional 2,014 shares during the last quarter. Institutional investors and hedge funds own 1.24% of the company’s stock.

Wall Street Analyst Weigh In

BCH has been the topic of a number of recent analyst reports. Zacks Research cut shares of Banco De Chile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 27th. The Goldman Sachs Group downgraded Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price objective on the stock. in a research note on Tuesday, January 13th. JPMorgan Chase & Co. lifted their target price on Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Wall Street Zen downgraded Banco De Chile from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco De Chile in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Banco De Chile presently has a consensus rating of “Reduce” and a consensus price target of $36.00.

About Banco De Chile

Banco de Chile (NYSE: BCH) is a leading Chilean financial institution headquartered in Santiago. Founded in 1893, the bank is one of the country’s oldest and most established banking groups, serving a broad spectrum of individual, corporate and institutional clients. It is publicly listed and operates under Chilean banking regulations while participating in international capital markets.

The bank’s core businesses include retail banking, commercial and corporate banking, and investment banking.