BCH Stock - 0.70% Upside Amid Governance Upgrades

On NOV 12 2025, BCH dropped by 0.02% within 24 hours to reach $507.2, BCH dropped by 1.31% within 7 days, dropped by 5.51% within 1 month, and rose by 16.36% within 1 year.

Goldman Sachs maintained its Neutral recommendation for Banco de Chile - Depositary Receipt on November 11, 2025. The firm projected a 0.70% upside, with an average one-year price target of $36.93 per share. Analyst forecasts range from $36.54 to $38.04, indicating a modest but optimistic outlook for the stock’s short-term potential.

Morningstar’s latest assessment of Banco de Chile highlighted slow growth, attributed to reduced inflation adjustment income and weak loan growth. As the second-largest bank in Chile by loans and third-largest by deposits, Banco de Chile derives approximately 60% of its revenue from net interest income, with a significant portion tied to mortgage and commercial lending.

On November 10, 2025, Banco de Chile approved bylaw amendments aimed at improving corporate governance. The Extraordinary Shareholders’ Meeting marked a strategic move to align the institution’s governance framework with evolving regulatory expectations. This development underscores the bank’s commitment to transparency and operational efficiency.

Institutional ownership of BCH showed mixed movements in the latest quarter. BBIEX increased its position by 14.87%, while Renaissance Technologies slightly reduced its stake. Baillie Gifford cut its holdings by 289.93%, reflecting a significant reallocation away from the stock. The overall put/call ratio of 4.11 signals a bearish market sentiment, with investors favoring protective options strategies.

The projected annual revenue for Banco de Chile is estimated at 3.207 trillion, showing a 19.40% increase. The non-GAAP earnings per share are forecasted at $8.49. These figures suggest a recovery in financial performance, albeit modest, following a challenging period of economic adjustment and slower lending growth.

Backtest Hypothesis

The recent earnings dynamics and governance updates present an opportunity to evaluate BCH using an event-driven backtesting approach. A potential hypothesis could focus on the stock’s performance around the earnings release dates. By analyzing historical price behavior within a defined period—specifically from January 1, 2022, to November 12, 2025—this strategy aims to uncover patterns or anomalies linked to earnings announcements. Given the projected upside and institutional activity, the backtest would seek to determine whether a systematic approach to buying or selling BCH following key financial disclosures could yield a consistent return.