Connor Clark & Lunn Investment Management Ltd. Has $8.40 Million Holdings in Banco de Chile (NYSE:BCH)

Connor Clark & Lunn Investment Management Ltd. cut its position in Banco de Chile (NYSE:BCH - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 370,175 shares of the bank's stock after selling 9,763 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of Banco de Chile worth $8,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its stake in Banco de Chile by 1.8% during the 3rd quarter. FMR LLC now owns 858,889 shares of the bank's stock worth $21,738,000 after buying an additional 15,312 shares during the period. BNP Paribas Financial Markets raised its position in shares of Banco de Chile by 18,631.0% during the third quarter. BNP Paribas Financial Markets now owns 21,728 shares of the bank's stock worth $550,000 after purchasing an additional 21,612 shares during the period. Walleye Capital LLC bought a new position in shares of Banco de Chile during the 3rd quarter valued at about $638,000. Itau Unibanco Holding S.A. acquired a new position in shares of Banco de Chile in the 3rd quarter valued at approximately $2,411,000. Finally, Quantinno Capital Management LP bought a new stake in Banco de Chile during the 3rd quarter worth approximately $261,000. 1.24% of the stock is owned by institutional investors.

Banco de Chile Stock Up 0.4 %

Shares of NYSE:BCH traded up $0.11 during mid-day trading on Wednesday, reaching $28.52. 246,476 shares of the stock were exchanged, compared to its average volume of 239,071. The stock's 50 day simple moving average is $25.49 and its 200-day simple moving average is $24.37. Banco de Chile has a one year low of $20.93 and a one year high of $28.64. The company has a market cap of $14.40 billion, a P/E ratio of 11.36, a P/E/G ratio of 6.08 and a beta of 0.39. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 1.92.

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Banco de Chile Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Banco de Chile from $21.00 to $23.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. StockNews.com cut shares of Banco de Chile from a "hold" rating to a "sell" rating in a research report on Wednesday, February 26th.

Banco de Chile 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.