Banco de Chile (NYSE:BCH) upgraded to Outperform on Scotiabank
Bank of Chile (NYSE:BCH – received rating) was upgraded from a “sector perform” rating to a “outperform” rating by equity researchers at Scotiabank in a note to investors on Wednesday, The fly reports.
A number of other analysts have also issued reports on BCH. Credit Suisse Group upgraded the shares of Banco de Chile from a “neutral” rating to a “outperform” rating in a research report on Wednesday, March 2 and increased its price target on the stock from USD 18.00 to $25.00. JPMorgan Chase & Co. downgraded Banco de Chile from an “overweight” rating to a “neutral” rating and set a price target of $23.00 for the company. in a research report on Thursday, February 17. StockNews.com Banco de Chile began reporting in a report on Thursday, March 31st. They gave the company a “hold” rating. Finally, Zacks Investment Research upgraded shares of Banco de Chile from a “hold” rating to a “buy” rating and put a price target of $23.00 on the stock in a research report on Tuesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “buy” and an average target price of $23.67.
shares of BCH opened at $21.23 on Wednesday. Banco de Chile has a 1-year low of $15.60 and a 1-year high of $24.88. The company has a leverage ratio of 3.40, a current ratio of 1.38 and a quick ratio of 1.39. The company has a 50-day simple moving average of $21.18 and a 200-day simple moving average of $19.14. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-to-growth ratio of 0.97 and a beta of 0.29.
Bank of Chile (NYSE:BCH – received rating) last released its quarterly results on Sunday, January 30th. The bank reported earnings per share of $0.68 for the quarter, beating the consensus estimate of $0.51 by $0.17. Banco de Chile had a return on equity of 15.65% and a net margin of 24.90%. On average, equity analysts expect Banco de Chile to report earnings per share of 1.89 for the current fiscal year.
A number of hedge funds and other institutional investors recently changed their positions in the stock. Morgan Stanley increased its position in Banco de Chile by 823.5% in the second quarter. Morgan Stanley now owns 15,376 shares of the bank, valued at $304,000, after purchasing an additional 13,711 shares last quarter. Crossmark Global Holdings Inc. increased its stake in Banco de Chile by 3.4% in the third quarter. Crossmark Global Holdings Inc. now owns 24,172 shares of the bank, valued at $447,000, after purchasing an additional 793 shares last quarter. Signaturefd LLC increased its position in Banco de Chile by 51.7% during the third quarter. Signaturefd LLC now owns 2,498 shares of the bank, valued at $46,000, after purchasing an additional 851 shares last quarter. Deutsche Bank AG increased its position in Banco de Chile by 2.2% in the third quarter. Deutsche Bank AG now owns 39,672 shares of the bank, valued at $734,000, after buying another 840 shares last quarter. Eventually, Texas Yale Capital Corp. increased its stake in Banco de Chile shares by 68.9% in the third quarter. Texas Yale Capital Corp. now owns 22,054 shares of the bank, valued at $408,000, after purchasing an additional 9,000 shares last quarter. Hedge funds and other institutional investors own 0.86% of the company’s shares.
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, wholesale and treasury 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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