Bank of America Corp DE Has $4.37 Million Position in Banco de Chile (BCH)

Bank of America Corp DE increased its stake in Banco de Chile (NYSE:BCH) by 8.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,046 shares of the bank’s stock after purchasing an additional 3,642 shares during the quarter. Bank of America Corp DE’s holdings in Banco de Chile were worth $4,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of BCH. Barclays PLC purchased a new position in Banco de Chile in the 1st quarter worth about $160,000. UBS Group AG increased its stake in Banco de Chile by 47.4% in the 1st quarter. UBS Group AG now owns 3,787 shares of the bank’s stock worth $381,000 after purchasing an additional 1,218 shares in the last quarter. Millennium Management LLC increased its stake in Banco de Chile by 57.5% in the 1st quarter. Millennium Management LLC now owns 28,756 shares of the bank’s stock worth $2,892,000 after purchasing an additional 10,495 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Banco de Chile in the 2nd quarter worth about $3,215,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Banco de Chile by 13.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 48,851 shares of the bank’s stock worth $4,542,000 after purchasing an additional 5,786 shares in the last quarter. 1.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BCH opened at $83.56 on Wednesday. The stock has a market capitalization of $14.46 billion, a P/E ratio of 15.11, a P/E/G ratio of 1.53 and a beta of 0.35. Banco de Chile has a 1-year low of $79.60 and a 1-year high of $106.50. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.39 and a current ratio of 1.41.

Banco de Chile shares are scheduled to split on the morning of Friday, November 23rd. The 3-1 split was announced on Tuesday, October 23rd. The newly created shares will be payable to shareholders after the closing bell on Wednesday, November 21st.

Banco de Chile (NYSE:BCH) last released its earnings results on Monday, July 30th. The bank reported $1.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.08. Banco de Chile had a return on equity of 17.90% and a net margin of 25.37%. The company had revenue of $736.27 million for the quarter. As a group, equities analysts forecast that Banco de Chile will post 5.37 EPS for the current year.

A number of brokerages recently weighed in on BCH. Zacks Investment Research cut Banco de Chile from a “hold” rating to a “sell” rating in a research note on Friday, September 21st. HSBC began coverage on Banco de Chile in a research note on Monday, August 20th. They issued a “reduce” rating on the stock. Finally, ValuEngine cut Banco de Chile from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Five analysts have rated the stock with a sell rating and one has given a hold rating to the company. The company has an average rating of “Sell” and an average price target of $98.00.

Banco de Chile Profile

Banco de Chile provides various banking products and services to individuals, corporate clients, large companies, and small and medium-sized companies in Chile and internationally. The company operates through four segments: Retail, Wholesale, Treasury, and Subsidiaries. It offers checking accounts; personal, car, and mortgage loans; credit cards; credit lines; and investment products, such as fixed-term, automatic renewal, and tax benefit deposits, as well as stocks, portfolio management, voluntary retirement savings/mutual funds, foreign currency, and fixed income investment products.

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Institutional Ownership by Quarter for Banco de Chile (NYSE:BCH)

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