Banco de Chile (NYSE:BCH) Sees Large Decrease in Short Interest

Banco de Chile (NYSE:BCH) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 267,900 shares, a drop of 27.5% from the February 13th total of 369,600 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 242,700 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC raised its stake in shares of Banco de Chile by 14.5% in the 4th quarter. Signaturefd LLC now owns 3,903 shares of the bank’s stock valued at $89,000 after acquiring an additional 493 shares during the period. R Squared Ltd acquired a new position in shares of Banco de Chile during the fourth quarter worth about $94,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Banco de Chile by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,416 shares of the bank’s stock worth $100,000 after buying an additional 1,291 shares during the period. Atlas Capital Advisors Inc. grew its stake in shares of Banco de Chile by 30.7% in the fourth quarter. Atlas Capital Advisors Inc. now owns 6,324 shares of the bank’s stock valued at $143,000 after buying an additional 1,487 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Banco de Chile during the 4th quarter valued at about $151,000. Institutional investors and hedge funds own 1.24% of the company’s stock.

Banco de Chile Trading Up 0.3 %

Shares of BCH stock traded up $0.09 during trading hours on Tuesday, hitting $28.43. 232,509 shares of the company were exchanged, compared to its average volume of 234,897. The firm has a fifty day moving average of $25.37 and a 200 day moving average of $24.35. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 1.92. Banco de Chile has a 1 year low of $20.93 and a 1 year high of $28.64. The firm has a market cap of $14.36 billion, a PE ratio of 11.33, a PEG ratio of 6.08 and a beta of 0.39.

Banco de Chile Dividend Announcement

The business also recently declared an annual dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 21st will be issued a $2.1037 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a dividend yield of 5.1%. Banco de Chile’s dividend payout ratio (DPR) is presently 53.78%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BCH. StockNews.com downgraded Banco de Chile from a “hold” rating to a “sell” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on Banco de Chile from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, January 24th.

Banco de Chile Company Profile

Banco de Chile, together with its subsidiaries, provides various banking services to customers in Chile. The company offers checking and debit accounts, debit and credit cards, and lines of credit; mortgage, consume, commercial, general purpose mortgage loans, and finance leases; and factoring services, mutual fund management, stock brokerage, foreign trade, payments and collections, insurance brokerage, including life and general insurance, as well as time deposits, savings instruments, and foreign currency services through branches under the Banco de Chile and Banco Edwards brands.