Banco De Chile (NYSE:BCH) Sees Large Drop in Short Interest

by · The Cerbat Gem

Banco De Chile (NYSE:BCHGet Free Report) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 518,614 shares, a decrease of 19.1% from the March 31st total of 641,355 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 426,806 shares, the days-to-cover ratio is presently 1.2 days.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BCH. The Goldman Sachs Group downgraded Banco De Chile from a “hold” rating to a “sell” rating and set a $36.00 price target for the company. in a report on Tuesday, January 13th. JPMorgan Chase & Co. increased their price target on Banco De Chile from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Banco De Chile in a report on Monday, April 20th. Zacks Research raised Banco De Chile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Finally, UBS Group set a $48.00 price target on Banco De Chile and gave the stock a “neutral” rating in a report on Friday, February 6th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $40.00.

View Our Latest Research Report on Banco De Chile

Banco De Chile Price Performance

Banco De Chile stock traded down $0.78 during midday trading on Friday, reaching $37.09. The company’s stock had a trading volume of 194,384 shares, compared to its average volume of 485,043. Banco De Chile has a fifty-two week low of $27.08 and a fifty-two week high of $46.77. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.53 and a current ratio of 1.59. The stock’s 50 day simple moving average is $38.87 and its 200 day simple moving average is $38.74. The firm has a market capitalization of $18.73 billion, a PE ratio of 13.29 and a beta of 0.25.

Banco De Chile (NYSE:BCHGet Free Report) last released its earnings results on Tuesday, March 31st. The bank reported $0.57 EPS for the quarter. Banco De Chile had a return on equity of 23.94% and a net margin of 33.09%.The company had revenue of $808.20 million during the quarter. On average, equities research analysts forecast that Banco De Chile will post 2.79 earnings per share for the current year.

Banco De Chile Announces Dividend

The firm also recently announced a special dividend, which was paid on Monday, April 13th. Shareholders of record on Monday, March 30th were issued a $2.1877 dividend. The ex-dividend date of this dividend was Monday, March 30th. Banco De Chile’s dividend payout ratio (DPR) is 59.14%.

Institutional Investors Weigh In On Banco De Chile

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its holdings in Banco De Chile by 33,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 680 shares of the bank’s stock valued at $26,000 after acquiring an additional 678 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Banco De Chile by 161.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,504 shares of the bank’s stock valued at $46,000 after acquiring an additional 929 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Banco De Chile by 286.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,722 shares of the bank’s stock valued at $66,000 after acquiring an additional 1,276 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Banco De Chile by 2,425.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,500 shares of the bank’s stock valued at $76,000 after acquiring an additional 2,401 shares during the period. Finally, Inspire Investing LLC acquired a new stake in Banco De Chile in the fourth quarter valued at $100,000. Institutional investors and hedge funds own 1.24% of the company’s stock.

Banco De Chile Company Profile

(Get Free Report)

Banco de Chile (NYSE: BCH) is a leading Chilean financial institution headquartered in Santiago. Founded in 1893, the bank is one of the country’s oldest and most established banking groups, serving a broad spectrum of individual, corporate and institutional clients. It is publicly listed and operates under Chilean banking regulations while participating in international capital markets.

The bank’s core businesses include retail banking, commercial and corporate banking, and investment banking.

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