Wetherby Asset Management Inc. Increases Position in Banco de Chile (NYSE:BCH)

Wetherby Asset Management Inc. grew its stake in Banco de Chile (NYSE:BCH) by 22.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,308 shares of the bank’s stock after purchasing an additional 2,439 shares during the period. Wetherby Asset Management Inc.’s holdings in Banco de Chile were worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Signaturefd LLC increased its holdings in Banco de Chile by 25.3% in the third quarter. Signaturefd LLC now owns 3,929 shares of the bank’s stock valued at $110,000 after buying an additional 793 shares during the last quarter. Bank of Montreal Can increased its position in Banco de Chile by 502.6% in the 2nd quarter. Bank of Montreal Can now owns 6,466 shares of the bank’s stock valued at $192,000 after acquiring an additional 5,393 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Banco de Chile during the 2nd quarter worth approximately $207,000. Quadrant Capital Group LLC grew its position in shares of Banco de Chile by 102.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 9,842 shares of the bank’s stock worth $290,000 after buying an additional 4,973 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Banco de Chile by 16.9% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 14,706 shares of the bank’s stock worth $436,000 after buying an additional 2,130 shares during the period. Hedge funds and other institutional investors own 1.20% of the company’s stock.

Several brokerages have recently commented on BCH. Scotiabank upgraded shares of Banco de Chile from a “sector perform” rating to an “outperform” rating in a research report on Thursday, July 25th. Goldman Sachs Group began coverage on shares of Banco de Chile in a research report on Tuesday, September 10th. They set a “neutral” rating and a $29.00 price target for the company. Zacks Investment Research upgraded shares of Banco de Chile from a “sell” rating to a “hold” rating in a research report on Monday. Finally, ValuEngine cut shares of Banco de Chile from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.67.

Banco de Chile stock opened at $24.67 on Friday. The company’s 50 day simple moving average is $27.76 and its 200 day simple moving average is $28.61. Banco de Chile has a fifty-two week low of $23.34 and a fifty-two week high of $32.83. The firm has a market capitalization of $12.97 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.49 and a beta of 0.41. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.50 and a quick ratio of 1.39.

About Banco de Chile

Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. The company operates through four segments: Retail, Wholesale, Treasury and Money Market Operations, and Subsidiaries. It offers deposit products, such as checking accounts, current accounts, demand deposits, demand accounts, saving accounts, and time deposits; credit cards; installment loans; credit lines; and residential mortgage loans, as well as short and long term financing.

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Institutional Ownership by Quarter for Banco de Chile (NYSE:BCH)

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