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Banco de Chile (NYSE:BCH) raised to ‘outperform’ Scotiabank


Bank of Chile (NYSE: BCHGet a rating) was upgraded by Scotiabank equity researchers from a “sector performance” rating to an “outperform” rating in a note issued to investors on Wednesday, Fly reports.

A number of other analysts have also published reports on BCH. Credit Suisse Group upgraded Banco de Chile shares from a “neutral” rating to an “outperforming” rating and raised its share price target from $18.00 to $25.00 in a report of research from Wednesday, March 2. JPMorgan Chase & Co. downgraded Banco de Chile from an “overweight” rating to a “neutral” rating and set a price target of $23.00 for the company. in a research report on Thursday, February 17. StockNews.com began covering Banco de Chile in a report on Thursday, March 31. They issued a “holding” rating for the company. To finish, Zacks Investment Research upgraded Banco de Chile shares from a “hold” rating to a “buy” rating and set a target price of $23.00 on the stock in a research report on Tuesday. Two analysts gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $23.67.

Shares of BCH opened at $21.23 on Wednesday. Banco de Chile has a 1-year minimum of $15.60 and a 1-year maximum of $24.88. The company has a debt ratio of 3.40, a current ratio of 1.38 and a quick ratio of 1.39. The company has a 50-day simple moving average of $21.18 and a 200-day simple moving average of $19.14. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of 12.64, a growth price-to-earnings ratio of 0.97 and a beta of 0.29.

Bank of Chile (NYSE: BCHGet a rating) last released its quarterly results on Sunday, January 30. The bank reported earnings per share of $0.68 for the quarter, beating the consensus estimate of $0.51 by $0.17. Banco de Chile had a return on equity of 15.65% and a net margin of 24.90%. On average, stock analysts expect Banco de Chile to post earnings per share of 1.89 for the current fiscal year.

A number of hedge funds and other institutional investors have recently changed their positions in the stock. Morgan Stanley increased its position in Banco de Chile by 823.5% in the second quarter. Morgan Stanley now owns 15,376 shares of the bank valued at $304,000 after acquiring 13,711 additional shares last quarter. Crossmark Global Holdings Inc. increased its stake in Banco de Chile by 3.4% in the third quarter. Crossmark Global Holdings Inc. now owns 24,172 shares of the bank worth $447,000 after buying an additional 793 shares last quarter. Signaturefd LLC increased its position in Banco de Chile by 51.7% in the third quarter. Signaturefd LLC now owns 2,498 shares of the bank valued at $46,000 after buying 851 additional shares in the last quarter. Deutsche Bank AG increased its position in Banco de Chile by 2.2% in the third quarter. Deutsche Bank AG now owns 39,672 shares of the bank valued at $734,000 after buying an additional 840 shares in the last quarter. Finally, Texas Yale Capital Corp. increased its stake in Banco de Chile shares by 68.9% during the third quarter. Texas Yale Capital Corp. now owns 22,054 shares of the bank valued at $408,000 after acquiring an additional 9,000 shares last quarter. Hedge funds and other institutional investors hold 0.86% of the company’s shares.

Banco de Chile Company Profile (Get a rating)

Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through Retail, Wholesale and Treasury segments. The Company offers deposit products, such as checking accounts, current accounts, deposits and current accounts, savings accounts and term deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.

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