Whittier Trust Co. acquired a new stake in Banco de Chile (NYSE: BCH – Get a rating) in the first quarter, according to its most recent SEC filing. The fund acquired 10,735 shares of the bank, valued at around $230,000.
A number of other hedge funds have also recently changed their positions in the company. Dimensional Fund Advisors LP increased its position in Banco de Chile shares by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 590,351 shares of the bank valued at $9,281,000 after buying an additional 22,056 shares last quarter. Itau Unibanco Holding SA bought a new position in shares of Banco de Chile during the 4th quarter valued at $7,571,000. Veriti Management LLC increased its position in Banco de Chile shares by 13.7% during the first quarter. Veriti Management LLC now owns 69,365 shares of the bank valued at $1,487,000 after buying 8,346 additional shares last quarter. Investors Research Corp increased its position in Banco de Chile shares by 18.7% in the first quarter. Investors Research Corp now owns 48,025 shares of the bank valued at $1,029,000 after buying an additional 7,550 shares last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Banco de Chile shares by 16.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 13,925 shares in the bank valued at $212,000 after buying an additional 2,000 shares last quarter. 0.89% of the shares are currently held by hedge funds and other institutional investors.
Banco de Chile share performance
Action of the Bank of Chile opened at $18.35 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a leverage ratio of 3.12. The company has a market capitalization of $9.27 billion, a PE ratio of 6.58, a P/E/G ratio of 0.80 and a beta of 0.37. The company has a fifty-day simple moving average of $19.05 and a two-hundred-day simple moving average of $20.00. Banco de Chile has a 12-month low of $15.60 and a 12-month high of $22.74.
Bank of Chile (NYSE: BCH – Get a rating) last released its quarterly results on Friday, April 29. The bank reported earnings per share of $0.69 for the quarter, beating the consensus estimate of $0.60 by $0.09. The company posted revenue of $560.31 million in the quarter, versus a consensus estimate of $742.05 million. Banco de Chile had a net margin of 40.44% and a return on equity of 26.29%. Research analysts expect Banco de Chile to post EPS of 2.31 for the current year.
Wall Street analysts predict growth
A number of research analysts have recently commented on BCH’s actions. Grupo Santander upgraded shares of Banco de Chile from a “neutral” rating to an “outperforming” rating and set a price target of $25.00 for the company in a Thursday, May 19 research report. Itaú Unibanco downgraded Banco de Chile shares from an “outperform” rating to a “market performer” rating and set a price target of $22.00 for the company. in a report on Tuesday, June 7. StockNews.com downgraded Banco de Chile’s shares from a “buy” rating to a “hold” rating in a report released Wednesday. Scotiabank upgraded Banco de Chile’s shares from an “sector performance” rating to an “outperform” rating in a Wednesday, April 13 report. Finally, Itau BBA Securities downgraded Banco de Chile shares from an “outperform” rating to a “market performer” rating and set a price target of $22.00 for the company. in a report on Tuesday, June 7. Four research analysts gave the stock a hold rating and four gave the stock a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.67.
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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