Banco de Chile (NYSE:BCH) rating raised to buy on StockNews.com

Bank of Chile (NYSE: BCH – Get a rating) has been updated by equity research analysts from StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

BCH has been the subject of a number of other research reports. Itau BBA Securities downgraded Banco de Chile shares from an “outperforming” rating to a “market performance” rating and set a price target of $22.00 for the stock. in a research report on Tuesday, June 7. Itaú Unibanco upgraded Banco de Chile from an “outperform” rating to a “market performance” rating and set a target price of $22.00 for the stock. in a research note from Tuesday, June 7. Credit Suisse Group lowered its price target on Banco de Chile to $21.00 in a Monday, August 22 research note. Grupo Santander upgraded shares of Banco de Chile from a “neutral” rating to an “outperforming” rating and set a price target of $25.00 for the company in a Thursday, May 19 report. Finally, Banco Santander upgraded Banco de Chile to a “buy” rating and set a target price of $25.00 for the company in a Friday, May 20 research report. Four research analysts gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Bank of Chile price performance

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Banco de Chile stock traded down $0.18 during Monday trading hours, hitting $19.50. 109,946 shares were traded, against an average volume of 150,032. The stock has a 50-day moving average of $18.61 and a two-hundred-day moving average of $19.83. The company has a market capitalization of $9.85 billion, a P/E ratio of 5.77, a price-to-earnings growth ratio of 0.85 and a beta of 0.36. Banco de Chile has a 12-month low of $15.60 and a 12-month high of $22.74. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt ratio of 3.17.

Institutional negotiation of Banco de Chile

Institutional investors and hedge funds have recently been buying and selling shares of the company. SG Americas Securities LLC purchased a new equity stake in Banco de Chile during the second quarter valued at approximately $120,000. Atlas Capital Advisors LLC acquired a new stake in Banco de Chile during Q2, valued at $136,000. Advisors Asset Management Inc. bought a new stake in shares of Banco de Chile in Q2 worth $148,000. Envestnet Asset Management Inc. bought a new stake in shares of Banco de Chile in the 4th quarter at a value of $159,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Banco de Chile in the second quarter worth $219,000. 1.10% of the shares are currently held by institutional investors.

About Banco de Chile

(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 banking, wholesale banking and cash and money market 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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Analyst Recommendations for Banco de Chile (NYSE: BCH)

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