Banco de Chile (NYSE:BCH) Shares Cross Above 200 Day Moving Average of $21.98

Banco de Chile (NYSE:BCH)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.98 and traded as high as $22.21. Banco de Chile shares last traded at $21.57, with a volume of 199,834 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BCH shares. JPMorgan Chase & Co. increased their price target on shares of Banco de Chile from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday. HSBC cut shares of Banco de Chile from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.00.

Banco de Chile Stock Up 1.3 %

The business’s fifty day moving average is $22.66 and its two-hundred day moving average is $21.99. The company has a market cap of $10.89 billion, a P/E ratio of 7.19 and a beta of 0.40. The company has a debt-to-equity ratio of 2.81, a quick ratio of 1.59 and a current ratio of 1.56.

Banco de Chile (NYSE:BCH) last announced its quarterly earnings data on Monday, January 29th. The bank reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.15. Banco de Chile had a net margin of 28.62% and a return on equity of 25.45%. The company had revenue of $987.90 million during the quarter, compared to analyst estimates of $872.49 million. Equities analysts predict that Banco de Chile will post 2.13 EPS for the current year.

Banco de Chile Announces Dividend

The firm also recently announced a Variable dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 22nd were given a dividend of $1.09 per share. This represents a yield of 4.8%. The ex-dividend date of this dividend was Thursday, March 21st. Banco de Chile’s dividend payout ratio (DPR) is 41.33%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mariner LLC increased its position in Banco de Chile by 46.1% during the 3rd quarter. Mariner LLC now owns 26,203 shares of the bank’s stock valued at $529,000 after purchasing an additional 8,265 shares during the period. Wellington Management Group LLP purchased a new position in shares of Banco de Chile in the 3rd quarter worth approximately $2,328,000. Alberta Investment Management Corp purchased a new position in shares of Banco de Chile in the 3rd quarter worth approximately $940,000. Advisors Preferred LLC purchased a new position in shares of Banco de Chile in the 4th quarter worth approximately $194,000. Finally, Brandywine Global Investment Management LLC grew its position in shares of Banco de Chile by 4.5% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 90,058 shares of the bank’s stock worth $1,819,000 after buying an additional 3,910 shares during the last quarter. Hedge funds and other institutional investors own 1.24% of the company’s stock.

About Banco de Chile

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.