Short interest of Banco de Chile (NYSE:BCH) increases 78.2% in June


Bank of Chile (NYSE: BCH – get rating) saw a significant increase in short interest in the month of June. As of June 30, there was short interest on a total of 266,400 shares, an increase of 78.2% from the June 15 total of 149,500 shares. Based on an average trading volume of 164,600 shares, the coverage days ratio is currently 1.6 days.

Analyst promotions and demotions

Several stock analysts have commented on BCH stock. Grupo Santander upgraded Banco de Chile’s shares from a “neutral” rating to a “superior” rating and set a $25.00 target price for the stock in a report on Thursday May 19. Banco Santander upgraded Banco de Chile’s shares to a “buy” rating and set a $25.00 price target for the stock in a research report on Friday May 20. StockNews.com upgraded Banco de Chile’s shares from a “hold” rating to a “buy” rating in a research report on Tuesday. Itau BBA Securities downgraded Banco de Chile’s shares from an “outperform” rating to a “market return” rating and set a price target of $22.00 for the stock. in an investigative report on Tuesday, June 7. Finally, Itaú Unibanco downgraded Banco de Chile’s shares from an “outperform” rating to a “market return” rating and set a price target of $22.00 for the stock. in an investigative report on Tuesday, June 7. Three research analysts rated the stock a hold rating and five assigned a buy rating to the company. According to MarketBeat data, the company currently has an average “Moderate Buy” rating and an average price target of $23.67.

Banco de Chile Trades up 8.2%

Shares of NYSE:BCH rose $1.32 during midday trading on Friday, reaching $17.33. 294,061 shares of the company’s capital stock were exchanged, compared to its average volume of 165,839. The company has a market cap of $8.75 billion, a P/E ratio of 6.21, a PEG ratio of 0.68, and a beta of 0.37. The company’s 50-day moving average price is $19.11 and its 200-day moving average price is $19.92. The firm has a debt-to-equity ratio of 3.12, a quick ratio of 1.53, and a current ratio of 1.53. Banco de Chile has a twelve-month minimum of $15.60 and a twelve-month maximum of $22.74.

Bank of Chile (NYSE: BCH – get rating) last published its quarterly earnings results on Friday, April 29. The bank reported $0.69 EPS for the quarter, beating analyst consensus estimates of $0.60 by $0.09. The company had revenue of $560.31 million in the quarter, compared to analyst estimates of $742.05 million. Banco de Chile had a net margin of 40.44% and a return on equity of 26.29%. On average, research analysts predict that Banco de Chile will post 2.31 EPS for the current fiscal year.

Hedge funds weigh on Banco de Chile

Hedge funds have recently bought and sold shares of the company. In the fourth quarter Itaú Unibanco Holding SA purchased a new stake in Banco de Chile valued at $7,571,000. Investors Research Corp increased its stake in Banco de Chile 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 last quarter. Veriti Management LLC increased its stake in Banco de Chile by 13.7% in the first quarter. Veriti Management LLC now owns 69,365 shares of the bank valued at $1,487,000 after purchasing an additional 8,346 shares last quarter. Dimensional Fund Advisors LP increased its stake in Banco de Chile by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 590,351 shares of the bank valued at $9,281,000 after purchasing an additional 22,056 shares last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Banco de Chile in the second quarter valued at $219,000. Institutional investors 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 Banking, Wholesale Banking and Treasury and Money Market segments. The company offers deposit products, such as current accounts, current accounts, sight accounts and deposits, savings accounts and time deposits; commercial, mortgage, consumer, working capital, syndicated and installment loans; and credit cards.

Other readings

This instant news alert was powered by MarketBeat’s financial data and narrative science technology to provide readers with the fastest and most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Banco de Chile right now?

Before you consider Banco de Chile, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market realizes it… and Banco de Chile was not on the list.

While Banco de Chile currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Previous The Week Ahead: Excelling in the “Golden Age” of Mortgage Servicing
Next Will the Indian rupee replace the Sri Lankan rupee?