Short Interest in Banco de Chile (NYSE:BCH) Drops By 87.7%

Banco de Chile (NYSE:BCHGet Rating) was the recipient of a significant decline in short interest in June. As of June 15th, there was short interest totalling 149,500 shares, a decline of 87.7% from the May 31st total of 1,220,000 shares. Based on an average trading volume of 152,800 shares, the days-to-cover ratio is currently 1.0 days.

NYSE BCH traded down $0.15 during trading hours on Wednesday, reaching $18.32. The stock had a trading volume of 1,380 shares, compared to its average volume of 134,293. The company 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 52-week low of $15.60 and a 52-week high of $22.74. The stock has a fifty day moving average of $19.98 and a 200 day moving average of $19.88. The stock has a market cap of $9.25 billion, a P/E ratio of 6.62, a price-to-earnings-growth ratio of 0.77 and a beta of 0.31.

Banco de Chile (NYSE:BCHGet Rating) last announced its earnings results on Friday, April 29th. The bank reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.09. Banco de Chile had a return on equity of 26.29% and a net margin of 40.44%. The business had revenue of $560.31 million during the quarter, compared to the consensus estimate of $742.05 million. On average, equities research analysts forecast that Banco de Chile will post 2.31 EPS for the current year.

BCH has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Banco de Chile in a report on Thursday, March 31st. They issued a “hold” rating for the company. Banco Santander upgraded shares of Banco de Chile to a “buy” rating and set a $25.00 target price for the company in a report on Friday, May 20th. Itau BBA Securities downgraded shares of Banco de Chile from an “outperform” rating to a “market perform” rating and set a $22.00 target price for the company. in a report on Tuesday, June 7th. Credit Suisse Group upgraded shares of Banco de Chile from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $18.00 to $25.00 in a report on Wednesday, March 2nd. Finally, Scotiabank upgraded shares of Banco de Chile from a “sector perform” rating to an “outperform” rating in a report on Wednesday, April 13th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.67.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCH. Schonfeld Strategic Advisors LLC purchased a new position in shares of Banco de Chile in the 3rd quarter valued at about $299,000. Veriti Management LLC grew its stake in shares of Banco de Chile by 24.5% in the 4th quarter. Veriti Management LLC now owns 61,019 shares of the bank’s stock valued at $959,000 after purchasing an additional 12,003 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Banco de Chile by 16.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 13,925 shares of the bank’s stock valued at $212,000 after purchasing an additional 2,000 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Banco de Chile in the fourth quarter valued at approximately $159,000. Finally, Profund Advisors LLC purchased a new stake in shares of Banco de Chile in the fourth quarter valued at approximately $174,000. Institutional investors and hedge funds own 0.89% of the company’s stock.

Banco de Chile Company Profile (Get Rating)

Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. It operates through Retail Banking, Wholesale Banking, and Treasury and Money Market segments. The company offers deposit products, such as checking accounts, current accounts, demand deposits and accounts, saving accounts, and time deposits; commercial, mortgage, consumer, working capital, syndicated, and installment loans; and credit cards.

Further Reading

Receive News & Ratings for Banco de Chile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco de Chile and related companies with MarketBeat.com's FREE daily email newsletter.