Banco de Chile (NYSE:BCH) Rating Lowered to “Sell” at StockNews.com

StockNews.com downgraded shares of Banco de Chile (NYSE:BCH) from a hold rating to a sell rating in a research report report published on Wednesday morning.

Separately, JPMorgan Chase & Co. increased their price objective on shares of Banco de Chile from $21.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, January 24th.

Banco de Chile Trading Down 1.2 %

Shares of NYSE BCH opened at $25.89 on Wednesday. The firm’s 50 day moving average price is $24.39 and its 200-day moving average price is $24.21. The company has a market cap of $13.08 billion, a PE ratio of 10.32, a P/E/G ratio of 6.08 and a beta of 0.44. Banco de Chile has a 52-week low of $20.93 and a 52-week high of $26.96. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.52 and a current ratio of 1.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in Banco de Chile during the third quarter valued at approximately $36,000. Signaturefd LLC lifted its position in Banco de Chile by 14.5% during the fourth quarter. Signaturefd LLC now owns 3,903 shares of the bank’s stock valued at $89,000 after purchasing an additional 493 shares during the period. R Squared Ltd bought a new position in Banco de Chile during the fourth quarter valued at approximately $94,000. Mirae Asset Global Investments Co. Ltd. raised its position in Banco de Chile by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,416 shares of the bank’s stock worth $100,000 after acquiring an additional 1,291 shares during the period. Finally, Atlas Capital Advisors Inc. raised its position in Banco de Chile by 30.7% in the fourth quarter. Atlas Capital Advisors Inc. now owns 6,324 shares of the bank’s stock worth $143,000 after acquiring an additional 1,487 shares during the period. Institutional investors own 1.24% of the company’s stock.

About Banco de Chile

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.