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 Monday.
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. “
BCH has been the subject of several other research reports. Credit Suisse Group reissued a hold rating on shares of Banco de Chile in a report on Friday, December 22nd. ValuEngine upgraded Banco de Chile from a hold rating to a buy rating in a research note on Thursday, March 1st. Bank of America downgraded Banco de Chile from a neutral rating to an underperform rating in a research note on Thursday, January 18th. Finally, Deutsche Bank downgraded Banco de Chile from a hold rating to a sell rating and set a $91.00 target price for the company. in a research note on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $92.75.
Banco de Chile (NYSE:BCH) last released its quarterly earnings results on Friday, February 2nd. The bank reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.01. Banco de Chile had a return on equity of 19.47% and a net margin of 24.77%. The business had revenue of $705.70 million during the quarter, compared to analyst estimates of $725.81 million. equities analysts anticipate that Banco de Chile will post 6.09 earnings per share for the current fiscal year.
The firm also recently declared an annual dividend, which was paid on Thursday, April 5th. Stockholders of record on Thursday, March 29th were given a dividend of $3.0988 per share. This represents a dividend yield of 3.06%. The ex-dividend date was Wednesday, March 28th. This is an increase from Banco de Chile’s previous annual dividend of $1.76. Banco de Chile’s dividend payout ratio (DPR) is 41.95%.
Several institutional investors and hedge funds have recently modified their holdings of BCH. Deutsche Bank AG boosted its position in shares of Banco de Chile by 167.8% during the 4th quarter. Deutsche Bank AG now owns 60,991 shares of the bank’s stock valued at $5,886,000 after acquiring an additional 38,212 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Banco de Chile in the 4th quarter worth approximately $3,548,000. Invictus RG purchased a new position in Banco de Chile in the 4th quarter worth approximately $1,522,000. Millennium Management LLC increased its stake in Banco de Chile by 483.6% in the 4th quarter. Millennium Management LLC now owns 18,261 shares of the bank’s stock worth $1,763,000 after purchasing an additional 15,132 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Banco de Chile by 1.6% in the 4th quarter. Renaissance Technologies LLC now owns 614,740 shares of the bank’s stock worth $59,341,000 after purchasing an additional 9,388 shares during the period. Hedge funds and other institutional investors own 1.30% of the company’s stock.
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Banco de Chile Company Profile
Banco de Chile provides various banking products and services to individuals, corporate clients, large companies, and small and medium-sized companies in Chile and internationally. The company operates through four segments: Retail, Wholesale, Treasury, and Subsidiaries. It offers checking accounts; personal, car, and mortgage loans; credit cards; credit lines; and investment products, such as fixed-term, automatic renewal, and tax benefit deposits, as well as stocks, portfolio management, voluntary retirement savings/mutual funds, foreign currency, and fixed income investment products.
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