Connor Clark & Lunn Investment Management Ltd. Reduces Position in Banco de Chile (NYSE:BCH)

Connor Clark & Lunn Investment Management Ltd. decreased its position in Banco de Chile (NYSE:BCH) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 370,175 shares of the bank’s stock after selling 9,763 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Banco de Chile were worth $8,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BCH. Baillie Gifford & Co. boosted its holdings in shares of Banco de Chile by 23.6% in the 4th quarter. Baillie Gifford & Co. now owns 3,236,373 shares of the bank’s stock valued at $73,401,000 after acquiring an additional 618,891 shares during the last quarter. FMR LLC raised its position in Banco de Chile by 1.8% during the third quarter. FMR LLC now owns 858,889 shares of the bank’s stock valued at $21,738,000 after acquiring an additional 15,312 shares in the last quarter. Alberta Investment Management Corp acquired a new position in Banco de Chile in the fourth quarter valued at approximately $4,033,000. State Street Corp boosted its position in Banco de Chile by 293.4% in the 3rd quarter. State Street Corp now owns 128,448 shares of the bank’s stock worth $3,251,000 after purchasing an additional 95,797 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Banco de Chile during the 3rd quarter worth approximately $2,411,000. Hedge funds and other institutional investors own 1.24% of the company’s stock.

Banco de Chile Stock Up 1.9 %

Shares of BCH opened at $27.72 on Friday. Banco de Chile has a 12 month low of $20.93 and a 12 month high of $27.81. The firm has a market cap of $14.00 billion, a P/E ratio of 11.04, a PEG ratio of 6.08 and a beta of 0.39. The company has a current ratio of 1.51, a quick ratio of 1.52 and a debt-to-equity ratio of 1.92. The stock’s 50 day moving average is $25.25 and its two-hundred day moving average is $24.33.

Banco de Chile Dividend Announcement

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

Wall Street Analyst Weigh In

BCH has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Banco de Chile from a “hold” rating to a “sell” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their target price on shares of Banco de Chile from $21.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th.

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.