JPMorgan Chase & Co. Boosts Banco de Chile (NYSE:BCH) Price Target to $21.00

Banco de Chile (NYSE:BCH) had its price target increased by JPMorgan Chase & Co. from $20.00 to $21.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the bank’s stock.

Separately, HSBC lowered Banco de Chile from a buy rating to a hold rating in a research note on Tuesday, December 19th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $22.00.

Banco de Chile Price Performance

Shares of NYSE BCH opened at $21.97 on Tuesday. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 7.32 and a beta of 0.40. Banco de Chile has a 52 week low of $19.20 and a 52 week high of $24.10. The firm has a 50-day simple moving average of $22.64 and a 200-day simple moving average of $22.00. The company has a quick ratio of 1.59, a current ratio of 1.56 and a debt-to-equity ratio of 2.81.

Banco de Chile (NYSE:BCH) last released its quarterly earnings data on Monday, January 29th. The bank reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.15. The company had revenue of $987.90 million during the quarter, compared to the consensus estimate of $872.49 million. Banco de Chile had a net margin of 28.62% and a return on equity of 25.45%. On average, equities analysts predict that Banco de Chile will post 2.13 earnings per share for the current fiscal year.

Banco de Chile Dividend Announcement

The company also recently declared a Variable dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 22nd were paid a $1.09 dividend. The ex-dividend date was Thursday, March 21st. This represents a dividend yield of 4.8%. Banco de Chile’s dividend payout ratio (DPR) is 41.00%.

Institutional Trading of Banco de Chile

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in Banco de Chile by 99.6% during the fourth quarter. BNP Paribas Financial Markets now owns 1,517 shares of the bank’s stock worth $35,000 after acquiring an additional 757 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Banco de Chile by 163.9% during the 4th quarter. Parallel Advisors LLC now owns 1,581 shares of the bank’s stock worth $36,000 after purchasing an additional 982 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Banco de Chile by 335.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,918 shares of the bank’s stock valued at $44,000 after buying an additional 1,478 shares during the period. Blue Trust Inc. lifted its position in Banco de Chile by 737.6% in the fourth quarter. Blue Trust Inc. now owns 2,697 shares of the bank’s stock valued at $62,000 after buying an additional 2,375 shares during the last quarter. Finally, Fortis Capital Advisors LLC purchased a new position in Banco de Chile during the fourth quarter worth about $71,000. Hedge funds and other institutional investors own 1.24% of the company’s stock.

About Banco de Chile

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.