Wellington Management Group LLP Takes Position in Banco de Chile (NYSE:BCH)

Wellington Management Group LLP purchased a new stake in Banco de Chile (NYSE:BCH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 115,249 shares of the bank’s stock, valued at approximately $2,328,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in Banco de Chile by 473.9% in the third quarter. Tower Research Capital LLC TRC now owns 2,663 shares of the bank’s stock valued at $47,000 after acquiring an additional 2,199 shares during the last quarter. Fortis Capital Advisors LLC bought a new stake in shares of Banco de Chile in the fourth quarter worth $71,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Banco de Chile in the fourth quarter valued at $81,000. Belpointe Asset Management LLC lifted its holdings in Banco de Chile by 39.7% in the first quarter. Belpointe Asset Management LLC now owns 4,788 shares of the bank’s stock valued at $93,000 after buying an additional 1,361 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Banco de Chile by 681.8% in the fourth quarter. Wells Fargo & Company MN now owns 5,965 shares of the bank’s stock valued at $124,000 after buying an additional 5,202 shares during the period. 1.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, HSBC lowered shares of Banco de Chile from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th.

Banco de Chile Trading Up 0.0 %

Shares of BCH stock opened at $21.90 on Thursday. Banco de Chile has a 52-week low of $18.64 and a 52-week high of $24.10. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.59 and a current ratio of 1.56. The company has a 50-day simple moving average of $22.61 and a two-hundred day simple moving average of $21.77. The company has a market capitalization of $11.06 billion, a price-to-earnings ratio of 7.30 and a beta of 0.40.

Banco de Chile (NYSE:BCH) last released its quarterly earnings data on Monday, January 29th. The bank reported $0.87 EPS for the quarter, topping the consensus estimate of $0.72 by $0.15. The company had revenue of $987.90 million during the quarter, compared to the consensus estimate of $872.49 million. Banco de Chile had a net margin of 28.62% and a return on equity of 25.45%. Research analysts anticipate that Banco de Chile will post 2.13 EPS for the current fiscal year.

Banco de Chile Dividend Announcement

The firm also recently disclosed a Variable dividend, which will be paid on Friday, April 5th. Investors of record on Friday, March 22nd will be issued a $1.09 dividend. This represents a yield of 4.8%. The ex-dividend date is Thursday, March 21st. Banco de Chile’s dividend payout ratio (DPR) is presently 36.33%.

Banco de Chile Company Profile

Banco de Chile, together with its subsidiaries, provides various 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.