Banco De Chile (NYSE:BCH) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Banco De Chile (NYSE:BCH) from a hold rating to a sell rating in a research note released on Saturday,Wall Street Zen reports.

A number of other brokerages have also recently weighed in on BCH. JPMorgan Chase & Co. dropped their target price on shares of Banco De Chile from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, October 6th. Weiss Ratings lowered shares of Banco De Chile from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Banco De Chile presently has a consensus rating of “Reduce” and an average price target of $39.67.

Banco De Chile Trading Up 3.7%

NYSE:BCH opened at $37.89 on Friday. Banco De Chile has a 12-month low of $33.60 and a 12-month high of $46.77. The firm has a market cap of $19.14 billion, a PE ratio of 13.11 and a beta of 0.20. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.94. The stock has a fifty day moving average price of $40.34 and a 200 day moving average price of $40.01.

Banco De Chile (NYSE:BCH) last announced its earnings results on Wednesday, July 1st. The bank reported $0.84 EPS for the quarter. The business had revenue of $999.95 million for the quarter. Banco De Chile had a net margin of 31.01% and a return on equity of 21.10%. Sell-side analysts anticipate that Banco De Chile will post 2.80 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Banco De Chile

Several institutional investors and hedge funds have recently made changes to their positions in the company. SPX Gestao de Recursos Ltda acquired a new position in shares of Banco De Chile in the 1st quarter valued at approximately $53,000. EverSource Wealth Advisors LLC increased its position in shares of Banco De Chile by 94.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,944 shares of the bank’s stock worth $109,000 after buying an additional 1,433 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Banco De Chile in the 3rd quarter valued at about $149,000. Sequoia Financial Advisors LLC acquired a new stake in Banco De Chile during the first quarter worth approximately $213,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Banco De Chile by 3.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,972 shares of the bank’s stock valued at $295,000 after acquiring an additional 298 shares during the period. Institutional investors and hedge funds own 1.24% of the company’s stock.

About Banco De Chile

Banco de Chile is a full-service commercial bank headquartered in Santiago, Chile. Founded in 1893, it is one of the country’s longstanding financial institutions and provides banking services to individuals, businesses, corporations and institutional clients throughout Chile.

The bank offers a broad range of products and services, including checking and savings accounts, consumer and commercial loans, mortgages, credit and debit cards, payment services, foreign-exchange transactions, investment products and financial advisory services.