Banco de Chile (BCH) Rating Increased to Buy at Zacks Investment Research

Banco de Chile (NYSE:BCH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, April 14th. The firm currently has a $83.00 target price on the bank’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.59% from the company’s current price.

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, Credit Suisse Group AG reiterated a “hold” rating and issued a $73.00 price target on shares of Banco de Chile in a research report on Friday, January 13th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $78.67.

Banco de Chile (NYSE:BCH) traded up 2.93% during mid-day trading on Friday, hitting $75.88. The stock had a trading volume of 19,484 shares. The firm has a market cap of $12.35 billion, a P/E ratio of 14.05 and a beta of 0.57. Banco de Chile has a 1-year low of $58.40 and a 1-year high of $76.62. The stock has a 50 day moving average of $74.11 and a 200-day moving average of $71.87.

Banco de Chile (NYSE:BCH) last released its quarterly earnings results on Monday, May 8th. The bank reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by $0.06. Banco de Chile had a net margin of 23.97% and a return on equity of 20.26%. The business had revenue of $640.30 million during the quarter. Analysts predict that Banco de Chile will post $5.41 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB purchased a new position in shares of Banco de Chile during the first quarter valued at approximately $114,000. Global X Management Co. LLC boosted its stake in Banco de Chile by 2.2% in the third quarter. Global X Management Co. LLC now owns 1,602 shares of the bank’s stock worth $108,000 after buying an additional 34 shares during the last quarter. Parallel Advisors LLC bought a new stake in Banco de Chile during the fourth quarter worth $125,000. LSV Asset Management boosted its stake in Banco de Chile by 172.2% in the third quarter. LSV Asset Management now owns 2,722 shares of the bank’s stock worth $183,000 after buying an additional 1,722 shares during the last quarter. Finally, Wexford Capital LP bought a new stake in Banco de Chile during the first quarter worth $209,000. Institutional investors and hedge funds own 3.31% of the company’s stock.

Banco de Chile Company Profile

5 Day Chart for NYSE:BCH

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