Banco de Chile (NYSE:BCH) Shares Pass Above Two Hundred Day Moving Average of $22.81

Banco de Chile (NYSE:BCH)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.81 and traded as high as $22.92. Banco de Chile shares last traded at $22.58, with a volume of 130,705 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BCH. JPMorgan Chase & Co. increased their price objective on Banco de Chile from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. StockNews.com upgraded Banco de Chile from a “sell” rating to a “hold” rating in a report on Friday.

Banco de Chile Stock Performance

The company has a market capitalization of $11.43 billion, a price-to-earnings ratio of 7.62 and a beta of 0.41. The stock has a 50-day moving average price of $23.27 and a 200-day moving average price of $22.81. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.48 and a quick ratio of 1.48.

Banco de Chile (NYSE:BCH) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $824.83 million during the quarter, compared to analysts’ expectations of $818.94 million. Banco de Chile had a return on equity of 23.65% and a net margin of 29.41%. As a group, analysts forecast that Banco de Chile will post 2.18 earnings per share for the current year.

Hedge Funds Weigh In On Banco de Chile

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in Banco de Chile by 24.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,926 shares of the bank’s stock worth $160,000 after buying an additional 1,573 shares during the period. FMR LLC grew its holdings in shares of Banco de Chile by 30.4% in the third quarter. FMR LLC now owns 418,556 shares of the bank’s stock valued at $8,455,000 after acquiring an additional 97,601 shares in the last quarter. Mariner LLC grew its holdings in shares of Banco de Chile by 46.1% in the third quarter. Mariner LLC now owns 26,203 shares of the bank’s stock valued at $529,000 after acquiring an additional 8,265 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Banco de Chile by 14.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 11,691 shares of the bank’s stock valued at $236,000 after acquiring an additional 1,449 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Banco de Chile by 3.2% in the third quarter. Lazard Asset Management LLC now owns 29,450 shares of the bank’s stock valued at $594,000 after acquiring an additional 926 shares in the last quarter. 1.24% of the stock is owned by institutional investors and hedge funds.

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.