Brokers expect Banco de Chile (NYSE:BCH – get rating) will post sales of $792.40 million for the current quarter, Zacks reports. Two analysts have provided estimates of Banco de Chile’s earnings, with estimates ranging from $710.36 million to $874.44 million. Banco de Chile recorded sales of $654.10 million during the same quarter of last year, which suggests a positive year-on-year growth rate of 21.1%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1.
According to Zacks, analysts expect Banco de Chile to record annual sales of $3.15 billion for the current year, with estimates ranging between $3.09 billion and $3.22 billion. For the next fiscal year, analysts anticipate the firm to report sales of $3.18 billion, with estimates ranging from $3.17 billion to $3.19 billion. Zacks’ sales estimates are an average based on a survey of research firms covering Banco de Chile.
Bank of Chile (NYSE: BCH – get rating) last announced its quarterly earnings data on Friday, April 29. The bank reported earnings per share of $0.69 for the quarter, beating analyst consensus estimates of $0.60 by $0.09. Banco de Chile had a net margin of 40.44% and a return on equity of 26.29%. The firm had revenue of $560.31 million during the quarter, compared to analyst estimates of $742.05 million.
Several analysts have recently weighed in on BCH stock. Credit Suisse Group upgraded Banco de Chile’s shares from a “neutral” rating to an “outperformance” rating and raised its share price target from $18.00 to $25.00 in a research report dated Wednesday, March 2 . JPMorgan Chase & Co. downgraded Banco de Chile’s shares from an “overweight” rating to a “neutral” rating and set a price target of $23.00 for the stock. in a report on Thursday, February 17. Zacks Investment Research upgraded Banco de Chile’s shares from a “hold” rating to a “buy” rating and set a $23.00 price target for the stock in a research note on Tuesday, April 12. StockNews.com assumed coverage on shares of Banco de Chile in a research note on Thursday, March 31. They issued a “hold” rating on the stock. Finally, Banco Santander upgraded Banco de Chile shares to a “buy” rating and set a $25.00 price target for the stock in a research note on Friday May 20. Two investment analysts rated the shares with a hold rating and five issued a buy rating on the company’s shares. According to data from MarketBeat.com, the company has a “Buy” consensus rating and an average price target of $24.20.
NYSE BCH shares opened at $20.45 on Monday. The company has a current ratio of 1.53, a quick ratio of 1.53, and a debt-to-equity ratio of 3.12. Banco de Chile has a 12-month minimum of $15.60 and a 12-month maximum of $22.74. The company has a market capitalization of $10.33 billion, a PE ratio of 7.33, a price/earnings growth ratio of 0.87, and a beta of 0.31. The firm has a fifty day simple moving average of $20.70 and a two hundred day simple moving average of $19.75.
Several hedge funds have recently changed their holdings in the company. Ethic Inc. purchased a new stake in Banco de Chile shares during the first quarter for an approximate value of $297,000. UBS Group AG strengthened its position in Banco de Chile by 70.6% in the first quarter. UBS Group AG now owns 16,679 shares of the bank valued at $358,000 after buying an additional 6,904 shares last quarter. Dimensional Fund Advisors LP strengthened its position in Banco de Chile by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 597,813 shares of the bank valued at $12,795,000 after purchasing an additional 7,462 shares during the last quarter. Banco BTG Pactual SA acquired in the first quarter a new stake in Banco de Chile valued at approximately $3,268,000. Finally, Crossmark Global Holdings Inc. increased its position in Banco de Chile by 2.6% in the first quarter. Crossmark Global Holdings Inc. now owns 24,372 shares of the bank valued at $522,000 after buying an additional 612 shares last quarter. Institutional investors and hedge funds own 0.89% of the company’s shares.
About Banco de Chile (get rating)
Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through the Retail, Wholesale and Treasury segments. The company offers deposit products, such as current accounts, current accounts, sight accounts and deposits, savings accounts and term deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.
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