Banco de Chile (NYSE:BCH) Price Target Raised to $23.00 at JPMorgan Chase & Co.

Banco de Chile (NYSE:BCH) had its price objective hoisted by JPMorgan Chase & Co. from $21.00 to $23.00 in a research report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the bank’s stock.

Banco de Chile Price Performance

BCH stock opened at $24.68 on Friday. Banco de Chile has a 52-week low of $20.93 and a 52-week high of $25.97. The stock has a market capitalization of $12.46 billion, a price-to-earnings ratio of 8.85 and a beta of 0.44. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.99. The stock’s fifty day simple moving average is $23.06 and its 200-day simple moving average is $23.85.

Banco de Chile (NYSE:BCH) last issued its earnings results on Tuesday, October 29th. The bank reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). Banco de Chile had a net margin of 30.00% and a return on equity of 22.69%. The firm had revenue of $980.10 million during the quarter, compared to analyst estimates of $796.96 million. Equities research analysts expect that Banco de Chile will post 2.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Banco de Chile in the fourth quarter valued at $94,000. Matthews International Capital Management LLC acquired a new position in shares of Banco de Chile during the fourth quarter worth about $400,000. Blue Trust Inc. lifted its stake in shares of Banco de Chile by 39.8% during the fourth quarter. Blue Trust Inc. now owns 15,574 shares of the bank’s stock worth $353,000 after purchasing an additional 4,434 shares in the last quarter. Barclays PLC lifted its stake in shares of Banco de Chile by 81.8% during the third quarter. Barclays PLC now owns 11,151 shares of the bank’s stock worth $282,000 after purchasing an additional 5,016 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Banco de Chile during the third quarter worth about $333,000. Institutional investors and hedge funds own 1.24% of the company’s stock.

Banco de Chile Company Profile

Banco de Chile, together with its subsidiaries, provides various banking services to customers in Chile. The company offers checking and debit accounts, debit and credit cards, and lines of credit; mortgage, consume, commercial, general purpose mortgage loans, and finance leases; and factoring services, mutual fund management, stock brokerage, foreign trade, payments and collections, insurance brokerage, including life and general insurance, as well as time deposits, savings instruments, and foreign currency services through branches under the Banco de Chile and Banco Edwards brands.