Banco de Chile (NYSE:BCH) Hits New 12-Month High - Should You Buy?

Banco de Chile (NYSE:BCH - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $28.85 and last traded at $28.68, with a volume of 22168 shares trading hands. The stock had previously closed at $28.40.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective 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. StockNews.com cut shares of Banco de Chile from a "hold" rating to a "sell" rating in a research note on Wednesday, February 26th.

Banco de Chile Price Performance

The company's fifty day moving average is $26.75 and its 200 day moving average is $24.72. The stock has a market cap of $14.78 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 6.08 and a beta of 0.31. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 1.92.

Banco de Chile Announces Dividend

The business also recently declared an annual dividend, which was paid on Thursday, April 3rd. Shareholders of record on Friday, March 21st were issued a $2.1037 dividend. This represents a yield of 5.1%. The ex-dividend date of this dividend was Friday, March 21st. Banco de Chile's dividend payout ratio is presently 62.55%.

Institutional Trading of Banco de Chile

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. raised its stake in shares of Banco de Chile by 23.6% in the 4th quarter. Baillie Gifford & Co. now owns 3,236,373 shares of the bank's stock valued at $73,401,000 after purchasing an additional 618,891 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in shares of Banco de Chile during the 4th quarter valued at approximately $11,494,000. Truffle Hound Capital LLC acquired a new position in Banco de Chile in the fourth quarter worth $4,536,000. Alberta Investment Management Corp bought a new stake in Banco de Chile during the fourth quarter valued at $4,033,000. Finally, Wellington Management Group LLP acquired a new position in shares of Banco de Chile in the 4th quarter valued at about $4,033,000. 1.24% of the stock is owned by hedge funds and other institutional investors.

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.

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