Advisors Asset Management Inc. Buys New Position in Banco de Chile (NYSE:BCH)

Advisors Asset Management Inc. bought a new stake in Banco de Chile (NYSE:BCHGet Rating) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 8,107 shares of the bank’s stock, valued at approximately $148,000.

A number of other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Banco de Chile in the 2nd quarter valued at approximately $120,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Banco de Chile in the 2nd quarter valued at approximately $219,000. Ethic Inc. purchased a new position in Banco de Chile in the 1st quarter valued at approximately $297,000. UBS Group AG increased its position in Banco de Chile by 70.6% during the first quarter. UBS Group AG now owns 16,679 shares of the bank’s stock worth $358,000 after buying an additional 6,904 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Banco de Chile by 107.8% during the first quarter. Envestnet Asset Management Inc. now owns 21,082 shares of the bank’s stock worth $452,000 after buying an additional 10,935 shares in the last quarter. 1.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Scotiabank downgraded Banco de Chile from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, October 26th. Credit Suisse Group reduced their price objective on Banco de Chile to $21.00 in a research note on Monday, August 22nd. Finally, StockNews.com cut Banco de Chile from a “buy” rating to a “hold” rating in a research note on Monday, October 31st. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.00.

Banco de Chile Price Performance

Shares of Banco de Chile stock opened at $18.04 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 3.02. The firm has a market cap of $9.11 billion, a P/E ratio of 4.92, a P/E/G ratio of 0.74 and a beta of 0.38. Banco de Chile has a fifty-two week low of $15.60 and a fifty-two week high of $22.74. The business has a 50-day moving average price of $18.24 and a 200 day moving average price of $18.78.

About Banco de Chile

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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 Treasury and Money Market segments. The company offers deposit products, such as checking accounts, current accounts, demand deposits and accounts, saving accounts, and time deposits; commercial, mortgage, consumer, working capital, syndicated, and installment loans; and credit cards.

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

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