Banco de Chile (BCH) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Banco de Chile (NYSE:BCH) posted its quarterly earnings results on Monday. The bank reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.36 by $0.06. Banco de Chile had a net margin of 23.97% and a return on equity of 20.26%. The company had revenue of $640.30 million during the quarter.

Shares of Banco de Chile (NYSE:BCH) traded up 2.31% during mid-day trading on Friday, reaching $75.42. 29,756 shares of the company’s stock traded hands. Banco de Chile has a 12-month low of $58.40 and a 12-month high of $76.62. The firm’s 50 day moving average price is $74.11 and its 200-day moving average price is $71.87. The stock has a market cap of $12.27 billion, a price-to-earnings ratio of 13.97 and a beta of 0.57.

A number of brokerages have recently issued reports on BCH. Zacks Investment Research upgraded shares of Banco de Chile from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Friday, April 14th. Credit Suisse Group AG set a $73.00 price objective on shares of Banco de Chile and gave the company a “hold” rating in a report on Wednesday, April 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $78.67.

Institutional investors have recently made changes to their positions in the company. Morgan Stanley increased its position in shares of Banco de Chile by 59.3% in the first quarter. Morgan Stanley now owns 35,186 shares of the bank’s stock worth $2,539,000 after buying an additional 13,099 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Banco de Chile by 16.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 32,299 shares of the bank’s stock worth $2,331,000 after buying an additional 4,628 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Banco de Chile by 8.3% in the first quarter. Bank of America Corp DE now owns 25,614 shares of the bank’s stock worth $1,848,000 after buying an additional 1,973 shares in the last quarter. Institutional investors and hedge funds own 3.31% of the company’s stock.

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