Banco de Chile (NYSE:BCH) Hits New 52-Week High – What’s Next?

Banco de Chile (NYSE:BCH)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $27.22 and last traded at $27.17, with a volume of 239333 shares changing hands. The stock had previously closed at $26.53.

Analyst Upgrades and Downgrades

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

Banco de Chile Stock Up 2.4 %

The company has a market cap of $13.72 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 6.08 and a beta of 0.44. The business has a fifty day moving average of $24.54 and a two-hundred day moving average of $24.23. The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 1.92.

Institutional Investors Weigh In On Banco de Chile

A number of institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its stake in Banco de Chile by 14.5% in the 4th quarter. Signaturefd LLC now owns 3,903 shares of the bank’s stock valued at $89,000 after buying an additional 493 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Banco de Chile by 9.6% during the 4th quarter. Quadrant Capital Group LLC now owns 9,084 shares of the bank’s stock worth $206,000 after buying an additional 793 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Banco de Chile by 41.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,416 shares of the bank’s stock valued at $100,000 after acquiring an additional 1,291 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Banco de Chile in the third quarter valued at approximately $36,000. Finally, Atlas Capital Advisors Inc. boosted its stake in shares of Banco de Chile by 30.7% in the fourth quarter. Atlas Capital Advisors Inc. now owns 6,324 shares of the bank’s stock worth $143,000 after acquiring an additional 1,487 shares during the last quarter. Institutional investors and hedge funds own 1.24% of the company’s stock.

About Banco de Chile

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.