Advisors Asset Management Inc. Trims Stock Holdings in Banco de Chile (NYSE:BCH)

Advisors Asset Management Inc. lowered its position in Banco de Chile (NYSE:BCH) by 38.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 23,323 shares of the bank’s stock after selling 14,420 shares during the period. Advisors Asset Management Inc.’s holdings in Banco de Chile were worth $590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BCH. Allspring Global Investments Holdings LLC purchased a new stake in Banco de Chile in the third quarter valued at approximately $36,000. Blue Trust Inc. lifted its stake in Banco de Chile by 629.3% in the second quarter. Blue Trust Inc. now owns 6,564 shares of the bank’s stock valued at $146,000 after buying an additional 5,664 shares during the last quarter. Creative Planning purchased a new stake in Banco de Chile in the third quarter valued at approximately $225,000. Liontrust Investment Partners LLP purchased a new stake in Banco de Chile in the second quarter valued at approximately $294,000. Finally, Virtu Financial LLC purchased a new stake in Banco de Chile in the first quarter valued at approximately $336,000. Hedge funds and other institutional investors own 1.24% of the company’s stock.

Banco de Chile Stock Performance

NYSE:BCH opened at $22.85 on Thursday. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.52 and a quick ratio of 1.52. The stock’s 50 day simple moving average is $24.02 and its 200-day simple moving average is $23.99. Banco de Chile has a 12-month low of $20.93 and a 12-month high of $25.97.

Banco de Chile (NYSE:BCH) last released its earnings results on Tuesday, October 29th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.03). The company had revenue of $980.10 million during the quarter, compared to analyst estimates of $796.96 million. Banco de Chile had a net margin of 30.00% and a return on equity of 22.69%. As a group, analysts expect that Banco de Chile will post 2.51 earnings per share for the current year.

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.