Banco de Chile (BCH) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Banco de Chile (NYSE:BCH) from a buy rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “Banco De Chile is principally engaged in commercial banking in Chile, providing general banking services to a diverse customer base that includes large corporations, small and mid-sized businesses and individuals. “

How to Become a New Pot Stock Millionaire

Several other analysts have also recently commented on BCH. ValuEngine raised Banco de Chile from a buy rating to a strong-buy rating in a report on Tuesday, March 13th. Deutsche Bank cut Banco de Chile from a hold rating to a sell rating and set a $91.00 price target for the company. in a report on Wednesday, January 24th. Bank of America cut Banco de Chile from a neutral rating to an underperform rating in a report on Thursday, January 18th. Finally, Credit Suisse Group reissued a hold rating on shares of Banco de Chile in a report on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $93.25.

Shares of BCH stock opened at $98.75 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 2.47. The company has a market capitalization of $16,501.13, a P/E ratio of 18.27, a PEG ratio of 1.06 and a beta of 0.43. Banco de Chile has a 1-year low of $71.45 and a 1-year high of $106.50.

Banco de Chile (NYSE:BCH) last posted its quarterly earnings results on Friday, February 2nd. The bank reported $1.40 EPS for the quarter, beating the consensus estimate of $1.39 by $0.01. The business had revenue of $705.70 million during the quarter, compared to analysts’ expectations of $725.81 million. Banco de Chile had a return on equity of 19.47% and a net margin of 24.77%. sell-side analysts anticipate that Banco de Chile will post 6.09 earnings per share for the current fiscal year.

The company also recently disclosed an annual dividend, which will be paid on Thursday, April 5th. Investors of record on Thursday, March 29th will be issued a dividend of $3.0988 per share. The ex-dividend date is Wednesday, March 28th. This is a boost from Banco de Chile’s previous annual dividend of $1.76. This represents a yield of 3.06%.

A number of hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Banco de Chile by 4.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 14,521 shares of the bank’s stock worth $1,324,000 after purchasing an additional 578 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Banco de Chile by 2.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,512 shares of the bank’s stock worth $2,964,000 after purchasing an additional 841 shares during the last quarter. Gilman Hill Asset Management LLC raised its holdings in Banco de Chile by 15.2% during the fourth quarter. Gilman Hill Asset Management LLC now owns 8,814 shares of the bank’s stock worth $851,000 after purchasing an additional 1,160 shares during the last quarter. Nordea Investment Management AB raised its holdings in Banco de Chile by 31.7% during the third quarter. Nordea Investment Management AB now owns 4,988 shares of the bank’s stock worth $455,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Banco de Chile by 47.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 4,395 shares of the bank’s stock worth $401,000 after purchasing an additional 1,411 shares during the last quarter. 1.30% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This story was first posted by Ticker Report and is the property of of Ticker Report. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.tickerreport.com/banking-finance/3298950/banco-de-chile-bch-downgraded-by-zacks-investment-research.html.

About Banco de Chile

Banco de Chile is a full service financial institution, which is engaged in providing credit and non-credit products and services in Chile. The Bank offers a range of banking services to its customers, ranging from individuals to corporations. The Bank’s segments include Retail, which focuses on individuals and small and medium-sized companies, where the product offering focuses on consumer loans, commercial loans, checking accounts, credit cards, credit lines and mortgage loans; Wholesale, which focuses on corporate clients and companies, where the product offering focuses on commercial loans, checking accounts and liquidity management services, debt instruments, foreign trade, derivative contracts and leases; Treasury, which includes the associated revenues to the management of the investment portfolio and the business of financial transactions and currency trading, and Subsidiaries, which corresponds to companies and corporations controlled by the Bank.

Get a free copy of the Zacks research report on Banco de Chile (BCH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Banco de Chile (NYSE:BCH)

Receive News & Ratings for Banco de Chile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco de Chile and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Q3 2018 EPS Estimates for Stelco Holdings Inc.  Increased by Analyst
Q3 2018 EPS Estimates for Stelco Holdings Inc. Increased by Analyst
SolarCoin One Day Volume Reaches $78,113.00
SolarCoin One Day Volume Reaches $78,113.00
Eroscoin Price Tops $0.0411 on Top Exchanges
Eroscoin Price Tops $0.0411 on Top Exchanges
Paratek Pharmaceuticals  Downgraded to “Strong Sell” at BidaskClub
Paratek Pharmaceuticals Downgraded to “Strong Sell” at BidaskClub
Nicolet Bankshares  Upgraded to “Hold” at BidaskClub
Nicolet Bankshares Upgraded to “Hold” at BidaskClub
51job  Lowered to Buy at BidaskClub
51job Lowered to Buy at BidaskClub


© 2006-2018 Ticker Report. Google+.