Banco Latinoamericano de Comercio Exterior (NYSE:BLX) Hits New 1-Year High – Here’s Why

Banco Latinoamericano de Comercio Exterior, S.A. (NYSE:BLX) reached a new 52-week high on Wednesday . The stock traded as high as $52.08 and last traded at $51.80, with a volume of 21582 shares trading hands. The stock had previously closed at $51.08.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Banco Latinoamericano de Comercio Exterior from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Banco Latinoamericano de Comercio Exterior presently has an average rating of “Strong Buy”.

Banco Latinoamericano de Comercio Exterior Price Performance

The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 8.49 and a beta of 0.83. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.62 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $49.19 and its two-hundred day simple moving average is $46.35.

Banco Latinoamericano de Comercio Exterior (NYSE:BLX) last announced its quarterly earnings data on Thursday, February 12th. The bank reported $1.50 earnings per share (EPS) for the quarter. The company had revenue of $88.80 million during the quarter. Banco Latinoamericano de Comercio Exterior had a net margin of 27.11% and a return on equity of 14.85%. On average, analysts forecast that Banco Latinoamericano de Comercio Exterior, S.A. will post 4.6 earnings per share for the current fiscal year.

Banco Latinoamericano de Comercio Exterior Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Wednesday, February 25th were given a $0.6875 dividend. This represents a $2.75 annualized dividend and a yield of 5.3%. This is a boost from Banco Latinoamericano de Comercio Exterior’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Wednesday, February 25th. Banco Latinoamericano de Comercio Exterior’s dividend payout ratio (DPR) is currently 45.01%.

Institutional Investors Weigh In On Banco Latinoamericano de Comercio Exterior

A number of institutional investors have recently added to or reduced their stakes in the stock. LSV Asset Management grew its stake in shares of Banco Latinoamericano de Comercio Exterior by 1.3% in the 4th quarter. LSV Asset Management now owns 1,163,826 shares of the bank’s stock valued at $51,907,000 after purchasing an additional 15,291 shares during the period. Hillsdale Investment Management Inc. lifted its position in shares of Banco Latinoamericano de Comercio Exterior by 4.8% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 122,864 shares of the bank’s stock worth $5,648,000 after buying an additional 5,600 shares during the period. Rhumbline Advisers boosted its stake in Banco Latinoamericano de Comercio Exterior by 11.5% in the 2nd quarter. Rhumbline Advisers now owns 46,968 shares of the bank’s stock valued at $1,893,000 after buying an additional 4,843 shares in the last quarter. Ramirez Asset Management Inc. boosted its stake in Banco Latinoamericano de Comercio Exterior by 12.0% in the 3rd quarter. Ramirez Asset Management Inc. now owns 39,988 shares of the bank’s stock valued at $1,838,000 after buying an additional 4,270 shares in the last quarter. Finally, Diversified Trust Co. bought a new stake in Banco Latinoamericano de Comercio Exterior in the fourth quarter valued at $200,000. 19.47% of the stock is owned by institutional investors and hedge funds.

Banco Latinoamericano de Comercio Exterior Company Profile

Banco Latinoamericano de Comercio Exterior SA, commonly known as BLADEx and traded on the New York Stock Exchange under the symbol BLX, is a multilateral financial institution dedicated to promoting foreign trade and regional integration in Latin America and the Caribbean. Headquartered in Panama City, the bank provides specialized trade finance solutions to corporate clients and financial institutions, helping to facilitate cross-border transactions across key markets in the region. Its services encompass import and export financing, supply chain solutions, project and structured finance, as well as treasury and risk management products.

Established in 1977 by a consortium of 20 Latin American and Caribbean governments in partnership with the Inter-American Development Bank (IDB), BLADEx has a mandate to support economic development through trade facilitation.