Connor Clark & Lunn Investment Management Ltd. Increases Position in Banco de Chile (NYSE:BCH)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Banco de Chile (NYSE:BCH) by 8.3% in the third quarter, HoldingsChannel.com reports. The fund owned 379,938 shares of the bank’s stock after acquiring an additional 28,959 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Banco de Chile were worth $9,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Banco de Chile during the 3rd quarter valued at $36,000. Blue Trust Inc. grew its position in Banco de Chile by 629.3% during the second quarter. Blue Trust Inc. now owns 6,564 shares of the bank’s stock valued at $146,000 after buying an additional 5,664 shares during the period. Creative Planning bought a new position in Banco de Chile during the third quarter valued at about $225,000. Liontrust Investment Partners LLP purchased a new stake in Banco de Chile during the second quarter worth about $294,000. Finally, Freestone Capital Holdings LLC bought a new stake in Banco de Chile in the first quarter worth about $312,000. 1.24% of the stock is currently owned by institutional investors.

Banco de Chile Price Performance

Banco de Chile stock opened at $23.41 on Friday. The firm has a 50 day moving average price of $24.14 and a 200-day moving average price of $23.98. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.52 and a quick ratio of 1.52. Banco de Chile has a twelve month low of $20.93 and a twelve month high of $25.97.

Banco de Chile (NYSE:BCH) last released 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). The firm had revenue of $980.10 million during the quarter, compared to analysts’ expectations of $796.96 million. Banco de Chile had a return on equity of 22.69% and a net margin of 30.00%. On average, sell-side analysts predict that Banco de Chile will post 2.51 EPS for the current year.

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.