R Squared Ltd Invests $94,000 in Banco de Chile (NYSE:BCH)

R Squared Ltd bought a new stake in shares of Banco de Chile (NYSE:BCH) in the fourth quarter, Holdings Channel reports. The firm bought 4,140 shares of the bank’s stock, valued at approximately $94,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BCH. AQR Capital Management LLC boosted its stake in shares of Banco de Chile by 61.5% in the 2nd quarter. AQR Capital Management LLC now owns 243,009 shares of the bank’s stock valued at $5,499,000 after buying an additional 92,532 shares during the period. Creative Planning purchased a new position in Banco de Chile during the 3rd quarter worth $225,000. Blue Trust Inc. increased its position in 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 acquiring an additional 4,576 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Banco de Chile in the third quarter valued at approximately $36,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Banco de Chile by 20.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 67,099 shares of the bank’s stock valued at $1,698,000 after buying an additional 11,609 shares during the period. Hedge funds and other institutional investors own 1.24% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their target price on Banco de Chile from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th.

Banco de Chile Stock Performance

NYSE BCH opened at $24.83 on Friday. The business has a 50 day moving average price of $23.15 and a 200 day moving average price of $23.86. The company has a market capitalization of $12.54 billion, a P/E ratio of 8.90 and a beta of 0.44. Banco de Chile has a 1-year low of $20.93 and a 1-year high of $25.97. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.52 and a quick ratio of 1.52.

Banco de Chile (NYSE:BCH) last announced its earnings results on Tuesday, October 29th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). Banco de Chile had a return on equity of 22.69% and a net margin of 30.00%. The business had revenue of $980.10 million for the quarter, compared to analyst estimates of $796.96 million. Sell-side analysts expect that Banco de Chile will post 2.5 EPS for the current fiscal year.

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.