Banco de Chile (NYSE:BCH) Shares Cross Above 200 Day Moving Average of $22.07

Banco de Chile (NYSE:BCH) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.07 and traded as high as $22.62. Banco de Chile shares last traded at $22.61, with a volume of 99,001 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their price objective on shares of Banco de Chile from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.00.

Banco de Chile Price Performance

The company’s 50-day moving average is $22.64 and its two-hundred day moving average is $22.07. The company has a debt-to-equity ratio of 2.81, a current ratio of 1.56 and a quick ratio of 1.59. The firm has a market cap of $11.42 billion, a P/E ratio of 7.54 and a beta of 0.40.

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

Banco de Chile Announces Dividend

The company also recently disclosed a Variable dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 22nd were paid a $1.09 dividend. This represents a dividend yield of 4.8%. The ex-dividend date was Thursday, March 21st. Banco de Chile’s dividend payout ratio is currently 41.00%.

Hedge Funds Weigh In On Banco de Chile

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mariner LLC lifted its holdings in shares of Banco de Chile by 46.1% in the 3rd quarter. Mariner LLC now owns 26,203 shares of the bank’s stock worth $529,000 after purchasing an additional 8,265 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Banco de Chile during the 3rd quarter valued at $2,328,000. Alberta Investment Management Corp purchased a new stake in shares of Banco de Chile during the 3rd quarter valued at $940,000. Advisors Preferred LLC purchased a new stake in shares of Banco de Chile during the 4th quarter valued at $194,000. Finally, Brandywine Global Investment Management LLC increased its position in shares of Banco de Chile by 4.5% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 90,058 shares of the bank’s stock valued at $1,819,000 after purchasing an additional 3,910 shares during the last quarter. 1.24% of the stock is currently owned by 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.