Banco de Chile (NYSE:BCH) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Banco de Chile (NYSE:BCH) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $23.80 and traded as high as $24.82. Banco de Chile shares last traded at $24.54, with a volume of 91,242 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Banco de Chile from a “sell” rating to a “hold” rating in a research report on Friday, July 19th.

Banco de Chile Stock Performance

The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 2.29. The company has a market cap of $12.50 billion, a price-to-earnings ratio of 8.32 and a beta of 0.40. The stock has a 50 day simple moving average of $24.81 and a 200 day simple moving average of $23.82.

Banco de Chile (NYSE:BCH) last released its quarterly earnings results on Tuesday, July 30th. The bank reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Banco de Chile had a return on equity of 22.72% and a net margin of 28.99%. The firm had revenue of $810.22 million during the quarter, compared to analysts’ expectations of $767.15 million. As a group, analysts predict that Banco de Chile will post 2.48 EPS for the current year.

Institutional Investors Weigh In On Banco de Chile

A number of large investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. boosted its position in Banco de Chile by 569.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,279 shares of the bank’s stock valued at $28,000 after buying an additional 1,088 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Banco de Chile in the third quarter valued at about $36,000. Whittier Trust Co. grew its stake in Banco de Chile by 17.2% during the 1st quarter. Whittier Trust Co. now owns 20,020 shares of the bank’s stock valued at $446,000 after purchasing an additional 2,934 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Banco de Chile by 31.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,596 shares of the bank’s stock worth $351,000 after purchasing an additional 3,730 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Banco de Chile by 69.7% in the 3rd quarter. Blue Trust Inc. now owns 11,140 shares of the bank’s stock valued at $282,000 after purchasing an additional 4,576 shares in the last quarter. 1.24% of the stock is owned by institutional investors and hedge funds.

Banco de Chile Company Profile

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.