Banco de Chile (NYSE:BCH) Sets New 52-Week Low at $20.40

Banco de Chile (NYSE:BCH)’s share price reached a new 52-week low on Friday . The company traded as low as $20.40 and last traded at $20.46, with a volume of 7196 shares changing hands. The stock had previously closed at $21.15.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Banco de Chile from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine lowered shares of Banco de Chile from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Finally, Goldman Sachs Group assumed coverage on shares of Banco de Chile in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $29.00 price objective for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Banco de Chile has an average rating of “Hold” and a consensus target price of $46.67.

The company’s fifty day simple moving average is $25.32 and its 200 day simple moving average is $27.93. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.05. The stock has a market capitalization of $10.79 billion, a P/E ratio of 12.02, a P/E/G ratio of 1.24 and a beta of 0.41.

Banco de Chile (NYSE:BCH) last announced its quarterly earnings results on Wednesday, November 6th. The bank reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.06). Banco de Chile had a net margin of 23.97% and a return on equity of 17.37%. The firm had revenue of $688.80 million during the quarter, compared to the consensus estimate of $705.83 million. Equities research analysts predict that Banco de Chile will post 1.68 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. Signaturefd LLC boosted its holdings in Banco de Chile by 25.3% in the 3rd quarter. Signaturefd LLC now owns 3,929 shares of the bank’s stock valued at $110,000 after purchasing an additional 793 shares during the period. Bank of Montreal Can boosted its holdings in Banco de Chile by 502.6% in the 2nd quarter. Bank of Montreal Can now owns 6,466 shares of the bank’s stock valued at $192,000 after purchasing an additional 5,393 shares during the period. United Services Automobile Association bought a new position in Banco de Chile in the 2nd quarter valued at $207,000. Quadrant Capital Group LLC boosted its holdings in Banco de Chile by 102.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 9,842 shares of the bank’s stock valued at $290,000 after purchasing an additional 4,973 shares during the period. Finally, Wetherby Asset Management Inc. boosted its holdings in Banco de Chile by 6.1% in the 2nd quarter. Wetherby Asset Management Inc. now owns 10,869 shares of the bank’s stock valued at $323,000 after purchasing an additional 626 shares during the period. 1.08% of the stock is owned by hedge funds and other institutional investors.

About Banco de Chile (NYSE:BCH)

Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. The company operates through four segments: Retail, Wholesale, Treasury and Money Market Operations, and Subsidiaries. It offers deposit products, such as checking accounts, current accounts, demand deposits, demand accounts, saving accounts, and time deposits; credit cards; installment loans; credit lines; and residential mortgage loans, as well as short and long term financing.

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