Bank of Chile (NYSE: BCH – get rating) saw significant growth in short interest in the month of August. As of August 31, there was short interest on a total of 160,500 shares, a growth of 14.7% from the August 15 total of 139,900 shares. Based on an average trading volume of 190,400 shares, the coverage days ratio is currently 0.8 days.
Banco de Chile Trades up 1.1%
NYSE BCH shares opened at $18.74 on Friday. The company’s 50-day moving average price is $18.74 and its 200-day moving average price is $19.78. The company has a market cap of $9.47 billion, a PE ratio of 5.54, a P/E/E ratio of 0.81, and a beta of 0.36. Banco de Chile has a 52-week minimum of $15.60 and a 52-week maximum of $22.74. The firm has a debt-to-equity ratio of 3.17, a quick ratio of 1.46, and a current ratio of 1.46.
Wall Street analysts forecast growth
Several brokerages recently commented on BCH. Credit Suisse Group lowered its price target on Banco de Chile to $21.00 in a research note on Monday, August 22. Itau Unibanco downgraded Banco de Chile from an “outperform” rating to a “market return” rating and set a $22.00 price target for the company. in an investigative report on Tuesday, June 7. Itaú BBA Securities downgraded Banco de Chile from an “outperform” rating to a “market return” rating and set a $22.00 price target for the company. in an investigative report on Tuesday, June 7. Finally, StockNews.com upgraded Banco de Chile from a “hold” rating to a “buy” rating in a research report on Monday, September 12. Four investment analysts rated the stock a hold rating and four assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.
Institutional entrances and exits
Hedge funds and other institutional investors have recently made changes to their positions in the company. In the fourth quarter Itaú Unibanco Holding SA purchased a new position in shares of Banco de Chile for an approximate value of $7,571,000. Investors Research Corp increased its stake in Banco de Chile shares by 18.7% during the first quarter. Investors Research Corp now owns 48,025 shares of the bank valued at $1,029,000 after buying an additional 7,550 shares last quarter. Envestnet Asset Management Inc. increased its stake in Banco de Chile shares by 107.8% during the first quarter. Envestnet Asset Management Inc. now owns 21,082 shares of the bank valued at $452,000 after buying an additional 10,935 shares last quarter. Banco BTG Pactual SA acquired during the first quarter a new position in shares of Banco de Chile valued at approximately $3,268,000. Finally, Crossmark Global Holdings Inc. increased its participation in Banco de Chile shares by 2.6% during the first quarter. Crossmark Global Holdings Inc. now owns 24,372 shares of the bank valued at $522,000 after buying an additional 612 shares last quarter. Institutional investors own 1.10% of the company’s shares.
Banco de Chile Company Profile
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through the Retail Banking, Wholesale Banking and Treasury and Money Market segments. The company offers deposit products, such as current accounts, current accounts, sight accounts and deposits, savings accounts and term deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.
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