Banco de Chile (NYSE:BCH) Short Interest Down 27.5% in February

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Banco de Chile from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. StockNews.com cut shares of Banco de Chile from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th.

Hedge Funds Weigh In On Banco de Chile

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealthedge Investment Advisors LLC acquired a new stake in shares of Banco de Chile in the fourth quarter valued at approximately $263,000. Mackenzie Financial Corp increased its position in 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 purchased a new stake in shares of Banco de Chile in the fourth quarter valued at $1,316,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Banco de Chile by 2.7% during 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 during the last quarter. Finally, Silvercrest Asset Management Group LLC purchased a new stake in Banco de Chile during the 4th quarter worth about $11,494,000. Institutional investors and hedge funds own 1.24% of the company’s stock.

Banco de Chile Price Performance

NYSE BCH traded up $0.09 during mid-day trading on Tuesday, hitting $28.43. The stock had a trading volume of 232,509 shares, compared to its average volume of 234,897. The company has a 50 day simple moving average of $25.37 and a 200 day simple moving average of $24.35. The company has a market cap of $14.36 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 6.08 and a beta of 0.39. Banco de Chile has a 52-week low of $20.93 and a 52-week high of $28.64. The company has a quick ratio of 1.52, a current ratio of 1.51 and a debt-to-equity ratio of 1.92.

Banco de Chile Dividend Announcement

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

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.