JPMorgan Chase & Co. Boosts Banco de Chile (NYSE:BCH) Price Target to $23.00

Banco de Chile (NYSE:BCH) had its price objective lifted by JPMorgan Chase & Co. from $21.00 to $23.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the bank’s stock.

Banco de Chile Stock Up 1.6 %

Shares of NYSE BCH opened at $24.68 on Friday. Banco de Chile has a 1 year low of $20.93 and a 1 year high of $25.97. The firm has a market cap of $12.46 billion, a price-to-earnings ratio of 8.85 and a beta of 0.44. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.52 and a current ratio of 1.52. The stock’s 50-day simple moving average is $23.06 and its 200-day simple moving average is $23.85.

Banco de Chile (NYSE:BCH) last announced its earnings results on Tuesday, October 29th. The bank reported $0.61 earnings per share (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 analysts’ expectations of $796.96 million. As a group, equities analysts anticipate that Banco de Chile will post 2.5 earnings per share for the current fiscal year.

Institutional Trading of Banco de Chile

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in Banco de Chile in the third quarter valued at about $36,000. R Squared Ltd bought a new stake in Banco de Chile in the fourth quarter valued at about $94,000. Creative Planning bought a new stake in Banco de Chile in the third quarter valued at about $225,000. Quantinno Capital Management LP bought a new stake in Banco de Chile in the third quarter valued at about $261,000. Finally, Blue Trust Inc. increased its holdings in Banco de Chile by 69.7% in the third quarter. Blue Trust Inc. now owns 11,140 shares of the bank’s stock valued at $282,000 after buying an additional 4,576 shares during the last quarter. 1.24% of the stock is owned by hedge funds and other institutional investors.

Banco de Chile Company Profile

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.