BCH Leadership Shifts Amid Mixed Analyst Calls and New Institutional Bets

On JAN 24, 2026, BCH, the stock of Banco de Chile, rose by 0.1% in the last 24 hours, gaining 2.09% in the past seven days, while seeing a marginal decline of 0.55% over both one month and one year. The share price currently stands at $596.6. Amidst these movements, the bank has seen key developments in its leadership and ownership structure.

Leadership Transition Signals Governance Refresh

Banco de Chile (BCH) announced a leadership shake-up at its extraordinary board meeting on January 21, 2026. Francisco Pérez Mackenna, the board’s vice-chairman, tendered his resignation, effective January 31, 2026, with the board formally accepting his departure and recognizing his contributions to the bank’s long-term development.

To maintain institutional stability, the board simultaneously approved the appointment of Óscar Hasbún Martínez as a new director, effective February 1, 2026, until the next ordinary shareholders’ meeting. Additionally, Jean-Paul Luksic Fontbona, an existing board member, was named vice-chairman starting the same date. The structured succession plan highlights a strategic and orderly governance shift, aimed at ensuring continuity in leadership and oversight.

Institutional Investors Adjust Positions

Institutional ownership of BCH has also seen adjustments. Aubrey Capital Management Ltd. acquired a new stake in the third quarter of 2025, purchasing 40,500 shares, equivalent to approximately $1.23 million. This move follows similar strategic positions by other institutional players, including TT International, which added a significant stake valued at $26.96 million in the same period.

Institutional ownership of the stock currently stands at around 1.24%, with ongoing activity indicating a mix of entry and accumulation strategies by major investors.

Analyst Ratings Show Divergence

Despite the leadership changes and institutional interest, analyst sentiment is mixed. The most recent consensus from MarketBeat is a “Reduce” rating, with a price target of $36.00. This reflects a shift in analyst sentiment, particularly after Goldman Sachs downgraded the stock to “Sell” and JPMorgan lowered its price target from $33.00 to $36.00, maintaining a “Neutral” stance.

In contrast, Weiss Ratings and Zacks Research have issued more conservative “Hold” ratings, emphasizing uncertainty in the near-term outlook. Meanwhile, Spark, TipRanks’ AI analyst, maintains a “Outperform” assessment, citing strong fundamentals and strategic progress, though cautioning on overbought technical conditions and high leverage.

Strategic Positioning in a Key Financial Market

As one of Chile’s largest and most established financial institutions, Banco de Chile provides a broad range of services, including retail, wholesale, and treasury operations, to both domestic and international clients. Its long-standing role in Chile’s financial system and regulatory oversight by the Chilean Financial Market Commission underscore its stability and significance in the regional economy.

With a market capitalization of $20.19 billion and a beta of 0.20, BCH remains a relatively low-volatility asset in the financial sector, attracting both long-term and strategic investors. The recent governance shift and institutional activity suggest ongoing interest in its long-term trajectory, even amid fluctuating analyst ratings.

Conclusion

The combination of leadership changes, institutional investment activity, and mixed analyst views points to a stock in transition. While BCH has seen a modest seven-day gain, its broader performance over the past month and year remains subdued. Investors are likely weighing these developments in the context of the bank’s strategic direction and broader market conditions.