Banco de Chile (BCH) Lowered to “Hold” at Zacks Investment Research

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

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. “

Separately, ValuEngine cut Banco de Chile from a strong-buy rating to a buy rating in a research note on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $96.33.

Shares of Banco de Chile opened at $92.40 on Tuesday, according to MarketBeat Ratings. The stock has a market cap of $15.44 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 0.95 and a beta of 0.43. Banco de Chile has a 12 month low of $79.60 and a 12 month high of $106.50. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.39 and a current ratio of 1.39.

Banco de Chile (NYSE:BCH) last issued its quarterly earnings data on Thursday, April 26th. The bank reported $1.42 EPS for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.05). The company had revenue of $671.00 million for the quarter. Banco de Chile had a return on equity of 17.99% and a net margin of 25.06%. equities research analysts predict that Banco de Chile will post 6.36 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the stock. Aperio Group LLC lifted its stake in shares of Banco de Chile by 2.3% in the first quarter. Aperio Group LLC now owns 135,420 shares of the bank’s stock worth $13,621,000 after acquiring an additional 3,057 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Banco de Chile by 167.8% in the fourth quarter. Deutsche Bank AG now owns 60,991 shares of the bank’s stock worth $5,886,000 after acquiring an additional 38,212 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Banco de Chile by 6.3% in the first quarter. Northern Trust Corp now owns 46,193 shares of the bank’s stock worth $4,647,000 after acquiring an additional 2,738 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Banco de Chile by 2.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 43,065 shares of the bank’s stock worth $4,332,000 after acquiring an additional 1,224 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in shares of Banco de Chile in the fourth quarter worth about $3,548,000. Institutional investors and hedge funds own 1.16% of the company’s stock.

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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