Banco de Chile (NYSE:BCH) Sees Significant Increase in Short Interest

Banco de Chile (NYSE:BCH - Get Free Report) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totalling 300,300 shares, a growth of 15.5% from the September 30th total of 260,100 shares. Based on an average trading volume of 162,700 shares, the days-to-cover ratio is presently 1.8 days.

Banco de Chile Price Performance

NYSE BCH traded down $0.57 during mid-day trading on Tuesday, hitting $23.67. The stock had a trading volume of 195,947 shares, compared to its average volume of 191,001. The company has a 50 day simple moving average of $24.75 and a 200 day simple moving average of $23.87. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 2.29. The company has a market cap of $11.96 billion, a price-to-earnings ratio of 7.97 and a beta of 0.40. Banco de Chile has a 52-week low of $19.87 and a 52-week high of $25.97.

Banco de Chile (NYSE:BCH - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The bank reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. The business had revenue of $810.22 million during the quarter, compared to the consensus estimate of $767.15 million. Banco de Chile had a return on equity of 22.72% and a net margin of 28.99%. Equities analysts forecast that Banco de Chile will post 2.48 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Banco de Chile from a "sell" rating to a "hold" rating in a research note on Friday, July 19th.

Hedge Funds Weigh In On Banco de Chile

Several hedge funds have recently added to or reduced their stakes in BCH. Baillie Gifford & Co. acquired a new stake in shares of Banco de Chile in the second quarter valued at approximately $60,462,000. Bessemer Group Inc. purchased a new stake in Banco de Chile in the 1st quarter valued at approximately $6,189,000. AQR Capital Management LLC grew its holdings in Banco de Chile by 61.5% during the 2nd quarter. AQR Capital Management LLC now owns 243,009 shares of the bank's stock valued at $5,499,000 after buying an additional 92,532 shares during the last quarter. Marshall Wace LLP increased its position in Banco de Chile by 24.3% during the second quarter. Marshall Wace LLP now owns 214,398 shares of the bank's stock worth $4,852,000 after buying an additional 41,894 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Banco de Chile by 20.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 67,099 shares of the bank's stock worth $1,698,000 after acquiring an additional 11,609 shares during the last quarter. 1.24% of the stock is currently 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.