Banco de Chile (NYSE:BCH) Reaches New 1-Year High - Should You Buy?

Banco de Chile (NYSE:BCH - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $27.50 and last traded at $27.46, with a volume of 27543 shares. The stock had previously closed at $27.20.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. 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 note on Friday, January 24th. StockNews.com downgraded Banco de Chile from a "hold" rating to a "sell" rating in a research note on Wednesday, February 26th.

Banco de Chile Trading Up 0.3 %

The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 1.92. The firm has a 50 day moving average of $25.49 and a 200 day moving average of $24.37. The firm has a market cap of $14.35 billion, a PE ratio of 11.32, a P/E/G ratio of 6.08 and a beta of 0.39.

Banco de Chile Announces Dividend

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

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Hedge Funds Weigh In On Banco de Chile

Several institutional investors have recently bought and sold shares of BCH. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Banco de Chile by 8.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 379,938 shares of the bank's stock valued at $9,616,000 after acquiring an additional 28,959 shares during the period. FMR LLC raised its holdings in Banco de Chile by 1.8% during the 3rd quarter. FMR LLC now owns 858,889 shares of the bank's stock valued at $21,738,000 after acquiring an additional 15,312 shares during the period. BNP Paribas Financial Markets raised its holdings in Banco de Chile by 18,631.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,728 shares of the bank's stock valued at $550,000 after acquiring an additional 21,612 shares during the period. Walleye Capital LLC bought a new stake in Banco de Chile during the 3rd quarter valued at $638,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Banco de Chile during the 3rd quarter valued at $2,411,000. Hedge funds and other institutional investors own 1.24% of the company's stock.

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.