Bank of Chile (NYSE: BCH – get rating) was the target of significant growth in short interest in September. As of September 15, there was short interest on a total of 209,700 shares, a growth of 30.7% from the August 31 total of 160,500 shares. Based on an average daily trading volume of 183,800 shares, the coverage days ratio is currently 1.1 days.

Institutional Negotiation of Banco de Chile

Several institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Banco de Chile shares during the second quarter for approximately $120,000. Atlas Capital Advisors LLC purchased a new equity stake in Banco de Chile in the second quarter valued at approximately $136,000. Advisors Asset Management Inc. acquired a new stake in shares of Banco de Chile in the 2nd quarter valued at $148,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Banco de Chile during the second quarter for $219,000. Finally, during the first quarter, Whittier Trust Co. acquired a new position in shares of Banco de Chile for a value of $230,000. Currently, 1.10% of the shares are owned by hedge funds and other institutional investors.

Banco de Chile Trades up 1.4%

Banco de Chile shares rose $0.25 during midday trading on Friday, reaching $17.67. The company’s shares had a trading volume of 136,381 shares, compared to its average volume of 149,556. The stock’s 50-day moving average is $18.81 and its 200-day moving average is $19.56. The company has a current ratio of 1.46, a quick ratio of 1.46, and a debt-to-equity ratio of 3.17. The company has a market capitalization of $8.92 billion, a PE ratio of 5.15, a price/earnings growth ratio of 0.76, and a beta of 0.36. Banco de Chile has a 1-year minimum of $15.60 and a 1-year maximum of $22.74.

Bank of Chile (NYSE: BCH – get rating) last published its quarterly earnings results on Friday, July 29. The bank reported earnings per share of $1.03 in the quarter, beating analyst consensus estimates of $0.63 by $0.40. The business had revenue of $580.90 million during the quarter, compared to analyst expectations of $792.40 million. Banco de Chile had a return on equity of 32.11% and a net margin of 49.07%. On average, analysts anticipate that Banco de Chile will record 2.79 EPS for this year.

Analyst promotions and demotions

Several analysts recently issued reports on the stock. StockNews.com raised Banco de Chile’s shares from a “hold” rating to a “buy” rating in a research note on Thursday, September 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. Itau BBA Securities downgraded Banco de Chile from an “outperform” rating to a “market return” rating and set a price target of $22.00 for the stock. in an investigative report on Tuesday, June 7. Finally, Credit Suisse Group lowered its price target on Banco de Chile to $21.00 in a report dated Monday, August 22. Four equity research analysts rated the stock a hold rating and four assigned a buy rating to the company. Per MarketBeat data, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Banco de Chile Company Profile

(get rating)

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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