Banco De Chile (NYSE:BCH) Posts Quarterly Earnings Results

Banco De Chile (NYSE:BCH) issued its earnings results on Friday. The bank reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.19, FiscalAI reports. Banco De Chile had a return on equity of 19.47% and a net margin of 29.95%.The business had revenue of $988.91 million during the quarter, compared to analysts’ expectations of $973.11 million.

Banco De Chile Stock Down 2.0%

Shares of BCH stock traded down $0.83 during mid-day trading on Friday, hitting $41.42. 355,178 shares of the stock traded hands, compared to its average volume of 381,819. Banco De Chile has a 52-week low of $27.08 and a 52-week high of $46.77. The stock has a market cap of $20.92 billion, a P/E ratio of 17.11 and a beta of 0.23. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.49 and a quick ratio of 1.49. The stock’s fifty day moving average is $39.44 and its two-hundred day moving average is $39.75.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BCH. Itau Unibanco Holding S.A. boosted its stake in Banco De Chile by 29.5% in the fourth quarter. Itau Unibanco Holding S.A. now owns 835,782 shares of the bank’s stock valued at $31,755,000 after acquiring an additional 190,567 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Banco De Chile by 199.1% during the third quarter. Qube Research & Technologies Ltd now owns 352,465 shares of the bank’s stock worth $10,680,000 after purchasing an additional 234,619 shares in the last quarter. Marshall Wace LLP increased its position in shares of Banco De Chile by 177.7% during the third quarter. Marshall Wace LLP now owns 298,085 shares of the bank’s stock worth $9,032,000 after purchasing an additional 190,741 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Banco De Chile by 53.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 216,950 shares of the bank’s stock valued at $5,747,000 after purchasing an additional 75,924 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Banco De Chile by 128.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 197,931 shares of the bank’s stock valued at $6,021,000 after purchasing an additional 111,253 shares during the last quarter. Institutional investors own 1.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BCH. UBS Group set a $39.00 price objective on Banco De Chile and gave the company a “neutral” rating in a 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 report on Monday, May 11th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $37.00.

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.