Banco de Chile (NYSE:BCH) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Banco de Chile (NYSE:BCH - Free Report) from a hold rating to a sell rating in a research report released on Friday.

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

Banco de Chile Trading Up 1.9 %

BCH traded up $0.46 during trading on Friday, reaching $25.11. 117,518 shares of the stock traded hands, compared to its average volume of 183,414. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.99. The stock's 50-day moving average is $23.23 and its 200 day moving average is $23.87. Banco de Chile has a 12 month low of $20.93 and a 12 month high of $25.97. The stock has a market capitalization of $12.68 billion, a PE ratio of 9.00 and a beta of 0.44.

Hedge Funds Weigh In On Banco de Chile

A number of large investors have recently modified their holdings of BCH. Truxt Investmentos Ltda. acquired a new position in Banco de Chile during the fourth quarter worth $1,169,000. Alberta Investment Management Corp acquired a new stake in shares of Banco de Chile in the 4th quarter worth about $4,033,000. Baillie Gifford & Co. lifted its position in 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 acquiring an additional 618,891 shares in the last quarter. Triasima Portfolio Management inc. boosted its stake in Banco de Chile by 49.6% during the 4th quarter. Triasima Portfolio Management inc. now owns 17,190 shares of the bank's stock valued at $390,000 after purchasing an additional 5,700 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Banco de Chile by 41.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,416 shares of the bank's stock worth $100,000 after purchasing an additional 1,291 shares in the last quarter. 1.24% of the stock is currently owned by 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.