Connor Clark & Lunn Investment Management Ltd. Sells 9,763 Shares of Banco de Chile (NYSE:BCH)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Banco de Chile (NYSE:BCH) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 370,175 shares of the bank’s stock after selling 9,763 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Banco de Chile worth $8,396,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Banco de Chile by 41.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,416 shares of the bank’s stock worth $100,000 after buying an additional 1,291 shares in the last quarter. R Squared Ltd purchased a new position in shares of Banco de Chile in the 4th quarter valued at $94,000. Blue Trust Inc. raised its position in shares of Banco de Chile by 39.8% in the 4th quarter. Blue Trust Inc. now owns 15,574 shares of the bank’s stock worth $353,000 after acquiring an additional 4,434 shares in the last quarter. Barclays PLC lifted its stake in shares of Banco de Chile by 81.8% during the 3rd quarter. Barclays PLC now owns 11,151 shares of the bank’s stock worth $282,000 after purchasing an additional 5,016 shares during the last quarter. Finally, Triasima Portfolio Management inc. lifted its stake in shares of Banco de Chile by 49.6% during the 4th quarter. Triasima Portfolio Management inc. now owns 17,190 shares of the bank’s stock worth $390,000 after purchasing an additional 5,700 shares during the last quarter. Hedge funds and other institutional investors own 1.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on BCH shares. JPMorgan Chase & Co. boosted their target price on shares of Banco de Chile from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. StockNews.com lowered shares of Banco de Chile from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th.

Banco de Chile Stock Up 1.9 %

Banco de Chile stock opened at $27.72 on Friday. Banco de Chile has a 1-year low of $20.93 and a 1-year high of $27.81. The business has a fifty day moving average price of $25.25 and a 200-day moving average price of $24.33. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.51 and a quick ratio of 1.52. The stock has a market capitalization of $14.00 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 6.08 and a beta of 0.39.

Banco de Chile Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 21st will be paid a dividend of $2.1037 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a dividend yield of 5.1%. Banco de Chile’s payout ratio is 53.78%.

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.