Banco de Chile (NYSE:BCH) Sees Large Decline in Short Interest

Banco de Chile (NYSE:BCH) saw a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 267,900 shares, a drop of 27.5% from the February 13th total of 369,600 shares. Based on an average daily volume of 242,700 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BCH. Wealthedge Investment Advisors LLC purchased a new stake in Banco de Chile during the 4th quarter worth approximately $263,000. Mackenzie Financial Corp grew its position in shares of Banco de Chile by 169.5% during the fourth quarter. Mackenzie Financial Corp now owns 29,891 shares of the bank’s stock worth $678,000 after buying an additional 18,800 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Banco de Chile in the fourth quarter worth $1,316,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Banco de Chile by 2.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 56,710 shares of the bank’s stock valued at $1,286,000 after acquiring an additional 1,495 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC bought a new position in Banco de Chile during the 4th quarter valued at $11,494,000. Institutional investors and hedge funds own 1.24% of the company’s stock.

Banco de Chile Stock Up 2.4 %

BCH traded up $0.66 during trading hours on Monday, reaching $28.35. 192,490 shares of the stock traded hands, compared to its average volume of 213,816. Banco de Chile has a fifty-two week low of $20.93 and a fifty-two week high of $28.35. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.51 and a quick ratio of 1.52. The company has a market cap of $14.32 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 6.08 and a beta of 0.39. The firm’s fifty day simple moving average is $25.37 and its two-hundred day simple moving average is $24.35.

Banco de Chile Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BCH. StockNews.com downgraded Banco de Chile from a “hold” rating to a “sell” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price target on Banco de Chile from $21.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, January 24th.

Banco de Chile Company 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.