Acadian Asset Management LLC Sells 6,484 Shares of Banco De Chile (BCH)

Acadian Asset Management LLC lowered its position in Banco De Chile (NYSE:BCH) by 18.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,335 shares of the bank’s stock after selling 6,484 shares during the period. Acadian Asset Management LLC’s holdings in Banco De Chile were worth $2,207,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Karp Capital Management Corp bought a new stake in Banco De Chile during the first quarter valued at $8,365,000. Renaissance Technologies LLC increased its stake in Banco De Chile by 10.8% in the first quarter. Renaissance Technologies LLC now owns 630,152 shares of the bank’s stock valued at $45,472,000 after buying an additional 61,600 shares during the period. AQR Capital Management LLC increased its stake in Banco De Chile by 21.2% in the first quarter. AQR Capital Management LLC now owns 94,163 shares of the bank’s stock valued at $6,795,000 after buying an additional 16,468 shares during the period. Goldman Sachs Group Inc. increased its stake in Banco De Chile by 11.2% in the first quarter. Goldman Sachs Group Inc. now owns 156,725 shares of the bank’s stock valued at $11,309,000 after buying an additional 15,823 shares during the period. Finally, Morgan Stanley increased its stake in Banco De Chile by 59.3% in the first quarter. Morgan Stanley now owns 35,186 shares of the bank’s stock valued at $2,539,000 after buying an additional 13,099 shares during the period. Institutional investors and hedge funds own 1.70% of the company’s stock.

Shares of Banco De Chile (BCH) opened at 86.60 on Friday. The stock has a market capitalization of $14.46 billion, a PE ratio of 16.04 and a beta of 0.40. The stock’s 50 day moving average is $84.29 and its 200 day moving average is $76.88. Banco De Chile has a 52-week low of $62.99 and a 52-week high of $87.82.

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Several research firms recently weighed in on BCH. BidaskClub upgraded shares of Banco De Chile from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Credit Suisse Group set a $76.00 price target on shares of Banco De Chile and gave the company a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research cut shares of Banco De Chile from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, ValuEngine cut shares of Banco De Chile from a “buy” rating to a “hold” rating in a research report on Saturday, July 22nd. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Banco De Chile currently has an average rating of “Buy” and an average price target of $81.00.

Banco De Chile Company Profile

Institutional Ownership by Quarter for Banco De Chile (NYSE:BCH)

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