Banco de Chile (NYSE:BCH) Short Interest Update
Bank of Chile (NYSE: BCH – Get a rating) saw significant growth in short-term interest in August. As of August 31, there was short interest totaling 160,500 shares, up 14.7% from the total of 139,900 shares as of August 15. Based on an average trading volume of 190,400 shares, the day-to-cover ratio is currently 0.8 days.
Banco de Chile trades up 1.1%
Shares of NYSE BCH opened at $18.74 on Friday. The company’s 50-day moving average price is $18.74 and its 200-day moving average price is $19.78. The company has a market capitalization of $9.47 billion, a PE ratio of 5.54, a P/E/G ratio of 0.81 and a beta of 0.36. Banco de Chile has a 52-week low of $15.60 and a 52-week high of $22.74. The company has a debt ratio of 3.17, a quick ratio of 1.46 and a current ratio of 1.46.
Wall Street analysts predict growth
A number of brokerages have recently commented on BCH. Credit Suisse Group lowered its price target on Banco de Chile to $21.00 in a Monday, August 22 research note. Itaú Unibanco downgraded Banco de Chile from an “outperforming” rating to a “market performance” rating and set a price target of $22.00 for the company. in a research report on Tuesday, June 7. Itau BBA Securities downgraded Banco de Chile from an “outperform” rating to a “market performer” rating and set a price target of $22.00 for the company. in a research report on Tuesday, June 7. To finish, StockNews.com upgraded Banco de Chile from a “hold” rating to a “buy” rating in a Monday, September 12 research report. Four investment analysts gave the stock a hold rating and four gave the stock a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.
Institutional entries and exits
Hedge funds and other institutional investors have recently changed their positions in the company. Itau Unibanco Holding SA bought a new position in shares of Banco de Chile in the fourth quarter for a value of approximately $7,571,000. Investors Research Corp increased its holdings of Banco de Chile shares by 18.7% in the first quarter. Investors Research Corp now owns 48,025 shares of the bank valued at $1,029,000 after buying an additional 7,550 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings of Banco de Chile shares by 107.8% in the first quarter. Envestnet Asset Management Inc. now owns 21,082 shares of the bank valued at $452,000 after buying an additional 10,935 shares in the last quarter. Banco BTG Pactual SA bought a new position in shares of Banco de Chile during the first quarter valued at approximately $3,268,000. Finally, Crossmark Global Holdings Inc. increased its equity stake in Banco de Chile by 2.6% during the first quarter. Crossmark Global Holdings Inc. now owns 24,372 shares of the bank valued at $522,000 after buying 612 additional shares in the last quarter. Institutional investors hold 1.10% of the company’s shares.
Banco de Chile Company Profile
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through retail banking, wholesale banking and cash and money market segments. The Company offers deposit products, such as checking accounts, current accounts, deposits and current accounts, savings accounts and term deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.
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