Renaissance Technologies LLC Lowers Stake in Banco De Chile $BCH

Renaissance Technologies LLC lessened its holdings in Banco De Chile (NYSE:BCH) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,207,932 shares of the bank’s stock after selling 86,400 shares during the period. Renaissance Technologies LLC’s holdings in Banco De Chile were worth $44,742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BCH. Caitong International Asset Management Co. Ltd raised its holdings in Banco De Chile by 33,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock worth $26,000 after purchasing an additional 678 shares during the period. EverSource Wealth Advisors LLC grew its holdings in 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 period. SPX Gestao de Recursos Ltda purchased a new stake in shares of Banco De Chile in the first quarter valued at approximately $53,000. Smartleaf Asset Management LLC increased its position in shares of Banco De Chile by 286.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank’s stock valued at $66,000 after buying an additional 1,276 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Banco De Chile by 2,425.3% in the second 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 in the last quarter. Hedge funds and other institutional investors own 1.24% of the company’s stock.

Banco De Chile Trading Up 1.6%

Shares of Banco De Chile stock opened at $41.36 on Tuesday. The firm has a market capitalization of $20.89 billion, a PE ratio of 17.09 and a beta of 0.23. Banco De Chile has a twelve month low of $27.08 and a twelve month high of $46.77. The firm’s 50-day moving average price is $39.22 and its 200 day moving average price is $39.73. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 2.00.

Banco De Chile (NYSE:BCH) last posted its quarterly earnings data on Tuesday, March 31st. The bank reported $0.57 EPS for the quarter. Banco De Chile had a return on equity of 19.47% and a net margin of 29.95%.The company had revenue of $321.27 million during the quarter. On average, sell-side analysts predict that Banco De Chile will post 2.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BCH. UBS Group set a $39.00 target price on Banco De Chile and gave the company a “neutral” rating in a research report on Friday, May 22nd. Weiss Ratings cut shares of Banco De Chile from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $37.00.

Banco De Chile Profile

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.