BlackRock Inc. Reduces Position in Banco de Chile (BCH)

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BlackRock Inc. lessened its stake in shares of Banco de Chile (NYSE:BCH) by 25.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,938 shares of the bank’s stock after selling 16,429 shares during the period. BlackRock Inc.’s holdings in Banco de Chile were worth $4,456,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. UBS Group AG lifted its position in shares of Banco de Chile by 47.4% during the 1st quarter. UBS Group AG now owns 3,787 shares of the bank’s stock valued at $381,000 after acquiring an additional 1,218 shares during the period. Millennium Management LLC increased its stake in Banco de Chile by 57.5% during the 1st quarter. Millennium Management LLC now owns 28,756 shares of the bank’s stock valued at $2,892,000 after purchasing an additional 10,495 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Banco de Chile during the 2nd quarter valued at $3,215,000. Northern Trust Corp increased its stake in Banco de Chile by 6.3% during the 1st quarter. Northern Trust Corp now owns 46,193 shares of the bank’s stock valued at $4,647,000 after purchasing an additional 2,738 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Banco de Chile by 13.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 48,851 shares of the bank’s stock valued at $4,542,000 after purchasing an additional 5,786 shares in the last quarter. Institutional investors own 1.24% of the company’s stock.

A number of brokerages have commented on BCH. Zacks Investment Research lowered shares of Banco de Chile from a “hold” rating to a “sell” rating in a research note on Friday, September 21st. ValuEngine lowered shares of Banco de Chile from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Finally, HSBC began coverage on shares of Banco de Chile in a research note on Monday, August 20th. They set a “reduce” rating for the company. Five equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. The company has a consensus rating of “Sell” and an average target price of $98.00.

Shares of BCH stock opened at $86.38 on Friday. The firm has a market cap of $14.54 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 1.75 and a beta of 0.48. The company has a debt-to-equity ratio of 2.62, a current ratio of 1.40 and a quick ratio of 1.39. Banco de Chile has a 12 month low of $79.60 and a 12 month high of $106.50.

Banco de Chile shares are scheduled to split on Friday, November 23rd. The 3-1 split was announced on Tuesday, October 23rd. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, November 21st.

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Banco de Chile Profile

Banco de Chile provides various banking products and services to individuals, corporate clients, large companies, and small and medium-sized companies in Chile and internationally. The company operates through four segments: Retail, Wholesale, Treasury, and Subsidiaries. It offers checking accounts; personal, car, and mortgage loans; credit cards; credit lines; and investment products, such as fixed-term, automatic renewal, and tax benefit deposits, as well as stocks, portfolio management, voluntary retirement savings/mutual funds, foreign currency, and fixed income investment products.

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Institutional Ownership by Quarter for Banco de Chile (NYSE:BCH)

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