Banco de Chile (NYSE:BCH) Shares Cross Above 200-Day Moving Average of $22.80

Shares of Banco de Chile (NYSE:BCHGet Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.80 and traded as high as $23.17. Banco de Chile shares last traded at $22.91, with a volume of 146,964 shares traded.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their price target on Banco de Chile from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th.

Check Out Our Latest Analysis on BCH

Banco de Chile Stock Up 1.6 %

The stock’s fifty day moving average price is $23.16 and its 200-day moving average price is $22.80. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.97.

Banco de Chile (NYSE:BCHGet Free Report) last issued its earnings results 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 net margin of 29.41% and a return on equity of 23.65%. On average, equities research analysts forecast that Banco de Chile will post 2.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco de Chile

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. acquired a new stake in shares of Banco de Chile in the first quarter valued at approximately $6,189,000. Wellington Management Group LLP increased its position in Banco de Chile by 143.6% during the fourth quarter. Wellington Management Group LLP now owns 280,716 shares of the bank’s stock worth $6,479,000 after buying an additional 165,467 shares in the last quarter. Alberta Investment Management Corp increased its position in Banco de Chile by 215.2% during the fourth quarter. Alberta Investment Management Corp now owns 146,633 shares of the bank’s stock worth $3,384,000 after buying an additional 100,108 shares in the last quarter. FMR LLC lifted its position 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Banco de Chile by 17.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,367 shares of the bank’s stock valued at $2,614,000 after acquiring an additional 17,241 shares in the last quarter. 1.24% of the stock is owned by institutional investors and hedge funds.

About Banco de Chile

(Get Free Report)

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.

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