Bank of Chile (NYSE: BCH – Get a rating) was the target of significant short-term interest growth in September. As of September 15, there were short interests totaling 209,700 shares, a growth of 30.7% from the total of 160,500 shares as of August 31. Based on an average daily trading volume of 183,800 shares, the days-to-cover ratio is currently 1.1 days.
Institutional negotiation of Banco de Chile
A number of institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new equity stake in Banco de Chile during the second quarter for approximately $120,000. Atlas Capital Advisors LLC bought a new equity stake in Banco de Chile in Q2, valued at around $136,000. Advisors Asset Management Inc. acquired a new equity stake in Banco de Chile in Q2 worth $148,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Banco de Chile during Q2 for $219,000. Finally, Whittier Trust Co. acquired a new position in shares of Banco de Chile during the first quarter worth $230,000. 1.10% of the shares are currently held by hedge funds and other institutional investors.
Banco de Chile trades up 1.4%
Banco de Chile stock traded down $0.25 at midday on Friday, hitting $17.67. The company’s stock had a trading volume of 136,381 shares, compared to an average volume of 149,556. The stock’s fifty-day moving average is $18.81 and its two-hundred-day moving average is 19 $.56. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt ratio of 3.17. The company has a market capitalization of $8.92 billion, a PE ratio of 5.15, a growth price-earnings ratio of 0.76 and a beta of 0.36. Banco de Chile has a 1-year low of $15.60 and a 1-year high of $22.74.
Bank of Chile (NYSE: BCH – Get a rating) last released its quarterly results on Friday, July 29. The bank reported earnings per share of $1.03 for the quarter, beating analysts’ consensus estimate of $0.63 by $0.40. The company posted revenue of $580.90 million in the quarter, compared to $792.40 million expected by analysts. Banco de Chile had a return on equity of 32.11% and a net margin of 49.07%. On average, analysts expect Banco de Chile to post EPS of 2.79 for the current year.
Analyst upgrades and downgrades
Several analysts have recently released reports on the stock. StockNews.com upgraded Banco de Chile shares from a “hold” rating to a “buy” rating in a Thursday, September 22 research note. Itaú Unibanco downgraded Banco de Chile from an “outperforming” rating to a “market performance” rating and set a price target of $22.00 for the company. in a research report on Tuesday, June 7. Itau BBA Securities downgraded Banco de Chile from an “outperforming” rating to a “market performing” rating and set a price target of $22.00 for the stock. in a research report on Tuesday, June 7. Finally, Credit Suisse Group lowered its price target on Banco de Chile to $21.00 in a Monday, August 22 report. Four equity research analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.
Banco de Chile Company Profile
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through retail banking, wholesale banking and cash and money market segments. The Company offers deposit products, such as checking accounts, current accounts, deposits and current accounts, savings accounts and term deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.
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