Banco de Chile (NYSE:BCH- received rating) was the target of a sharp rise in short rates in September. On September 15th, there was short interest totaling 209,700 shares, up 30.7% from August 31st of a total of 160,500 shares. Based on an average daily trading volume of 183,800 shares, the days-to-cover ratio is currently 1.1 days.

Institutional trading of the Banco de Chile

A number of institutional investors and hedge funds have recently bought and sold shares in the company. SG Americas Securities LLC acquired a new interest in Banco de Chile stock valued at approximately $120,000 during the second quarter. Atlas Capital Advisors LLC acquired a new interest in Banco de Chile stock valued at approximately $136,000 during the second quarter. Advisors Asset Management Inc. acquired a new stake in Banco de Chile stock valued at $148,000 during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Banco de Chile stock valued at $219,000 in Q2. Finally, Whittier Trust Co. bought a new position in Banco de Chile stock worth $230,000 during the first quarter. 1.10% of the shares are currently owned by hedge funds and other institutional investors.

Banco de Chile trading up 1.4%

Shares of Banco de Chile rose $0.25 on Friday midday to hit $17.67. The company’s shares had a trading volume of 136,381 shares compared to an average volume of 149,556. The stock’s 50-day moving average is $18.81 and the 200-day moving average is $19.56. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 3.17. The company has a market cap of $8.92 billion, a P/E of 5.15, a price-to-earnings-to-growth 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.

Banco de Chile (NYSE:BCH- received rating) last released its quarterly results on Friday, July 29. The bank reported earnings per share of $1.03 for the quarter, beating analyst consensus estimates of $0.63 by $0.40. The company had revenue of $580.90 million for the quarter, compared to analysts’ expectations of $792.40 million. 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 report 2.79 EPS for the current year.

Analyst upgrades and downgrades

Several analysts have recently issued reports on the stock. StockNews.com upgraded the shares of Banco de Chile from a “hold” rating to a “buy” rating in a research note on Thursday, September 22nd. Itaú Unibanco lowered Banco de Chile from an outperform rating to a market perform rating and set a price target of $22.00 for the company. in a research paper on Tuesday, June 7th. Itau BBA Securities downgraded Banco de Chile from an outperform rating to a market perform rating and set a price target of $22.00 for the stock. in a research paper on Tuesday, June 7th. Finally, Credit Suisse Group lowered its target price on Banco de Chile to $21.00 in a report on Monday, August 22. Four equities research analysts have assigned a hold rating to the stock and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target of $23.00.

Banco de Chile company profile

(received rating)

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 treasury and money market segments. The Company offers deposit products such as current accounts, checking accounts, demand deposits and accounts, savings accounts and time deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.

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