Gruss & Co. Inc. Sells 4,800 Shares of Banco de Chile (NYSE:BCH)

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Gruss & Co. Inc. lowered its position in shares of Banco de Chile (NYSE:BCH) by 34.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,100 shares of the bank’s stock after selling 4,800 shares during the quarter. Banco de Chile accounts for 0.3% of Gruss & Co. Inc.’s investment portfolio, making the stock its 28th largest holding. Gruss & Co. Inc.’s holdings in Banco de Chile were worth $256,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BCH. Signaturefd LLC boosted its stake in shares of Banco de Chile by 25.3% during the 3rd quarter. Signaturefd LLC now owns 3,929 shares of the bank’s stock worth $110,000 after purchasing an additional 793 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Banco de Chile by 502.6% during the 2nd quarter. Bank of Montreal Can now owns 6,466 shares of the bank’s stock worth $192,000 after acquiring an additional 5,393 shares during the period. United Services Automobile Association purchased a new position in shares of Banco de Chile during the 2nd quarter worth about $207,000. Quadrant Capital Group LLC lifted its holdings in shares of Banco de Chile by 102.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 9,842 shares of the bank’s stock worth $290,000 after acquiring an additional 4,973 shares during the period. Finally, Wetherby Asset Management Inc. lifted its holdings in shares of Banco de Chile by 6.1% during the 2nd quarter. Wetherby Asset Management Inc. now owns 10,869 shares of the bank’s stock worth $323,000 after acquiring an additional 626 shares during the period. Institutional investors own 1.08% of the company’s stock.

NYSE:BCH traded up $0.95 during trading hours on Wednesday, hitting $20.73. The stock had a trading volume of 213,283 shares, compared to its average volume of 85,855. Banco de Chile has a 1-year low of $19.62 and a 1-year high of $32.83. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.05. The company has a market cap of $10.32 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.27 and a beta of 0.34. The business has a 50 day simple moving average of $24.64 and a two-hundred day simple moving average of $27.76.

Banco de Chile (NYSE:BCH) last released its quarterly earnings data on Wednesday, November 6th. The bank reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). Banco de Chile had a return on equity of 17.37% and a net margin of 23.97%. The business had revenue of $688.80 million during the quarter, compared to analyst estimates of $705.83 million. Research analysts expect that Banco de Chile will post 1.48 EPS for the current fiscal year.

BCH has been the topic of several recent analyst reports. ValuEngine upgraded shares of Banco de Chile from a “sell” rating to a “hold” rating in a report on Tuesday. Goldman Sachs Group began coverage on shares of Banco de Chile in a report on Tuesday, September 10th. They issued a “neutral” rating and a $29.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Banco de Chile from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $46.67.

Banco de Chile Company Profile

Banco de Chile, together with its subsidiaries, provides banking and financial products and services to customers in Chile. The company operates through four segments: Retail, Wholesale, Treasury and Money Market Operations, and Subsidiaries. It offers deposit products, such as checking accounts, current accounts, demand deposits, demand accounts, saving accounts, and time deposits; credit cards; installment loans; credit lines; and residential mortgage loans, as well as short and long term financing.

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

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