Zacks Investment Research lowered shares of Banco de Chile (NYSE:BCH) from a buy rating to a hold rating in a research note released on Monday morning.

According to Zacks, “Banco De Chile is principally engaged in commercial banking in Chile, providing general banking services to a diverse customer base that includes large corporations, small and mid-sized businesses and individuals. “

Several other equities analysts also recently issued reports on the stock. Credit Suisse Group set a $76.00 price target on shares of Banco de Chile and gave the company a hold rating in a report on Thursday, December 20th. ValuEngine downgraded shares of Banco de Chile from a sell rating to a strong sell rating in a report on Friday, November 23rd.

Shares of BCH opened at $30.82 on Monday. Banco de Chile has a 1 year low of $27.04 and a 1 year high of $34.62. The firm has a market cap of $15.74 billion, a PE ratio of 18.13, a PEG ratio of 1.15 and a beta of 0.43.

The business also recently disclosed a special dividend, which will be paid on Thursday, April 4th. Investors of record on Friday, March 22nd will be paid a dividend of $1.0575 per share. This represents a dividend yield of 3.24%. The ex-dividend date is Thursday, March 21st. Banco de Chile’s dividend payout ratio is currently 45.29%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in shares of Banco de Chile by 199.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 537,102 shares of the bank’s stock valued at $15,365,000 after purchasing an additional 357,982 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Banco de Chile during the fourth quarter valued at about $1,061,000. Legal & General Group Plc raised its stake in shares of Banco de Chile by 200.0% during the fourth quarter. Legal & General Group Plc now owns 5,808 shares of the bank’s stock valued at $167,000 after purchasing an additional 3,872 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in shares of Banco de Chile by 200.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 8,010 shares of the bank’s stock valued at $229,000 after purchasing an additional 5,340 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of Banco de Chile during the fourth quarter valued at about $622,000. Institutional investors and hedge funds own 1.28% of the company’s stock.

About Banco de Chile

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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