Zacks Investment Research Lowers Banco De Chile (BCH) to Hold

Zacks Investment Research lowered shares of Banco De Chile (NYSE:BCH) from a buy rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “Banco De Chile is principally engaged in commercial banking in Chile, providing general banking services to a diverse customer base that includes large corporations, small and mid-sized businesses and individuals. “

Several other equities analysts also recently weighed in on the company. J P Morgan Chase & Co downgraded Banco De Chile from an overweight rating to a neutral rating and set a $92.00 price target for the company. in a report on Wednesday, September 6th. ValuEngine upgraded Banco De Chile from a hold rating to a buy rating in a report on Friday, September 1st. BidaskClub upgraded Banco De Chile from a buy rating to a strong-buy rating in a report on Wednesday, August 16th. Finally, Credit Suisse Group set a $76.00 price target on Banco De Chile and gave the company a hold rating in a report on Saturday, July 1st. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $88.67.

Banco De Chile (NYSE:BCH) traded up 1.39% during trading on Tuesday, reaching $87.71. 9,793 shares of the company’s stock were exchanged. The stock has a market cap of $14.65 billion, a PE ratio of 16.24 and a beta of 0.40. The firm has a 50 day moving average of $87.08 and a 200-day moving average of $79.00. Banco De Chile has a 12 month low of $65.75 and a 12 month high of $89.91.

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Institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB purchased a new stake in shares of Banco De Chile during the first quarter valued at $114,000. Parallel Advisors LLC boosted its position in shares of Banco De Chile by 3.4% during the first quarter. Parallel Advisors LLC now owns 1,839 shares of the bank’s stock valued at $135,000 after buying an additional 60 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Banco De Chile by 27.9% during the first quarter. Global X Management Co. LLC now owns 1,931 shares of the bank’s stock valued at $139,000 after buying an additional 421 shares during the last quarter. Wexford Capital LP purchased a new stake in shares of Banco De Chile during the first quarter valued at $209,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of Banco De Chile during the first quarter valued at $235,000. 1.54% of the stock is currently owned by institutional investors.

About Banco De Chile

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