Banco de Chile (NYSE:BCH) Sees Strong Trading Volume – Still a Buy?

Shares of Banco de Chile (NYSE:BCH) saw an uptick in trading volume on Monday . 126,212 shares were traded during mid-day trading, a decline of 36% from the previous session’s volume of 198,442 shares.The stock last traded at $23.69 and had previously closed at $23.53.

Banco de Chile Trading Up 0.1 %

The company has a market cap of $11.89 billion, a price-to-earnings ratio of 8.43 and a beta of 0.44. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.99. The firm’s 50-day moving average price is $23.61 and its 200 day moving average price is $23.89.

Banco de Chile (NYSE:BCH) last released its earnings results on Tuesday, October 29th. The bank reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). Banco de Chile had a return on equity of 22.69% and a net margin of 30.00%. The business had revenue of $980.10 million for the quarter, compared to the consensus estimate of $796.96 million. As a group, equities analysts expect that Banco de Chile will post 2.5 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. bought a new stake in Banco de Chile in the second quarter valued at approximately $60,462,000. Itau Unibanco Holding S.A. bought a new position in shares of Banco de Chile during the third quarter valued at approximately $2,411,000. State Street Corp raised its holdings in shares of Banco de Chile by 293.4% during the third quarter. State Street Corp now owns 128,448 shares of the bank’s stock valued at $3,251,000 after acquiring an additional 95,797 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Banco de Chile by 61.5% during the second quarter. AQR Capital Management LLC now owns 243,009 shares of the bank’s stock valued at $5,499,000 after acquiring an additional 92,532 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Banco de Chile by 24.3% during the second quarter. Marshall Wace LLP now owns 214,398 shares of the bank’s stock valued at $4,852,000 after acquiring an additional 41,894 shares in the last quarter. Hedge funds and other institutional investors own 1.24% of the company’s stock.

About Banco de Chile

Banco de Chile, together with its subsidiaries, provides various banking services to customers in Chile. The company offers checking and debit accounts, debit and credit cards, and lines of credit; mortgage, consume, commercial, general purpose mortgage loans, and finance leases; and factoring services, mutual fund management, stock brokerage, foreign trade, payments and collections, insurance brokerage, including life and general insurance, as well as time deposits, savings instruments, and foreign currency services through branches under the Banco de Chile and Banco Edwards brands.