Banco de Chile (NYSE:BCH) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Banco de Chile (NYSE:BCH) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $23.73 and traded as high as $24.72. Banco de Chile shares last traded at $24.66, with a volume of 104,928 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Banco de Chile from a “sell” rating to a “hold” rating in a research note on Friday, July 19th.

Banco de Chile Stock Performance

The company has a debt-to-equity ratio of 2.29, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $12.47 billion, a price-to-earnings ratio of 8.31 and a beta of 0.40. The firm has a 50 day simple moving average of $24.76 and a 200-day simple moving average of $23.75.

Banco de Chile (NYSE:BCH) last issued its quarterly earnings data on Tuesday, July 30th. The bank reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. Banco de Chile had a net margin of 28.99% and a return on equity of 22.72%. The firm had revenue of $810.22 million for the quarter, compared to analyst estimates of $767.15 million. As a group, analysts predict that Banco de Chile will post 2.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco de Chile

Several large investors have recently made changes to their positions in BCH. Baillie Gifford & Co. purchased a new stake in Banco de Chile in the second quarter valued at approximately $60,462,000. Bessemer Group Inc. purchased a new stake in shares of Banco de Chile in the 1st quarter valued at $6,189,000. Wellington Management Group LLP lifted its stake in Banco de Chile by 143.6% during the 4th quarter. Wellington Management Group LLP now owns 280,716 shares of the bank’s stock worth $6,479,000 after acquiring an additional 165,467 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Banco de Chile by 61.5% during the 2nd quarter. AQR Capital Management LLC now owns 243,009 shares of the bank’s stock valued at $5,499,000 after acquiring an additional 92,532 shares during the period. Finally, Marshall Wace LLP grew its position in Banco de Chile by 24.3% in the 2nd quarter. Marshall Wace LLP now owns 214,398 shares of the bank’s stock valued at $4,852,000 after acquiring an additional 41,894 shares in the last quarter. 1.24% of the stock is currently owned by institutional investors and hedge funds.

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.