Banco de Chile (NYSE:BCH) Sees Large Volume Increase – What’s Next?

Banco de Chile (NYSE:BCH) saw unusually-strong trading volume on Monday . Approximately 126,212 shares were traded during mid-day trading, a decline of 36% from the previous session’s volume of 198,442 shares.The stock last traded at $23.69 and had previously closed at $23.53.

Banco de Chile Trading Down 1.7 %

The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.99. The business has a 50 day moving average price of $23.57 and a 200-day moving average price of $23.89. The firm has a market capitalization of $11.70 billion, a PE ratio of 8.30 and a beta of 0.44.

Banco de Chile (NYSE:BCH) last announced its quarterly earnings results on Tuesday, October 29th. The bank reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). Banco de Chile had a net margin of 30.00% and a return on equity of 22.69%. The firm had revenue of $980.10 million during the quarter, compared to analysts’ expectations of $796.96 million. Analysts expect that Banco de Chile will post 2.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCH. Baillie Gifford & Co. purchased a new stake in shares of Banco de Chile during the second quarter valued at approximately $60,462,000. Itau Unibanco Holding S.A. bought a new position in Banco de Chile during the 3rd quarter worth $2,411,000. State Street Corp raised its holdings in shares of Banco de Chile by 293.4% during the third quarter. State Street Corp now owns 128,448 shares of the bank’s stock valued at $3,251,000 after buying an additional 95,797 shares during the last quarter. AQR Capital Management LLC boosted its position 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 worth $5,499,000 after acquiring an additional 92,532 shares during the period. Finally, Marshall Wace LLP grew its position in Banco de Chile by 24.3% in the 2nd quarter. Marshall Wace LLP now owns 214,398 shares of the bank’s stock valued at $4,852,000 after buying an additional 41,894 shares in 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.