National Bank Financial Increases Banco Latinoamericano de Comerci Extr (NYSE:BLX) Price Target to $26.00

Banco Latinoamericano de Comerci Extr (NYSE:BLX) had its price objective upped by equities researchers at National Bank Financial from $25.00 to $26.00 in a note issued to investors on Friday, Stock Target Advisor reports. The brokerage presently has an “outperform” rating on the bank’s stock. National Bank Financial’s price target would suggest a potential upside of 17.75% from the company’s previous close.

BLX has been the topic of a number of other research reports. TheStreet raised shares of Banco Latinoamericano de Comerci Extr from a “d+” rating to a “c” rating in a research note on Friday, August 2nd. Zacks Investment Research raised shares of Banco Latinoamericano de Comerci Extr from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Wednesday, September 25th. ValuEngine cut shares of Banco Latinoamericano de Comerci Extr from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 31st. CIBC raised their price objective on shares of Banco Latinoamericano de Comerci Extr from $24.00 to $25.00 in a research note on Wednesday, October 23rd. Finally, TD Securities raised their price objective on shares of Banco Latinoamericano de Comerci Extr from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Banco Latinoamericano de Comerci Extr has a consensus rating of “Buy” and a consensus target price of $24.33.

Shares of NYSE BLX traded up $0.43 during midday trading on Friday, reaching $22.08. 93,808 shares of the stock were exchanged, compared to its average volume of 81,672. The firm has a market cap of $853.27 million, a price-to-earnings ratio of 78.86 and a beta of 1.32. Banco Latinoamericano de Comerci Extr has a twelve month low of $16.02 and a twelve month high of $22.95. The firm has a 50-day simple moving average of $20.10 and a two-hundred day simple moving average of $20.26. The company has a quick ratio of 2.09, a current ratio of 2.20 and a debt-to-equity ratio of 2.60.

Banco Latinoamericano de Comerci Extr (NYSE:BLX) last issued its quarterly earnings data on Friday, October 18th. The bank reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.05). The firm had revenue of $29.52 million for the quarter, compared to analyst estimates of $35.00 million. Banco Latinoamericano de Comerci Extr had a return on equity of 8.46% and a net margin of 28.00%. Research analysts expect that Banco Latinoamericano de Comerci Extr will post 2.23 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in BLX. Rhumbline Advisers grew its stake in Banco Latinoamericano de Comerci Extr by 9.1% in the 3rd quarter. Rhumbline Advisers now owns 48,347 shares of the bank’s stock valued at $964,000 after acquiring an additional 4,021 shares during the period. Thomas White International Ltd. grew its stake in Banco Latinoamericano de Comerci Extr by 3.1% in the 2nd quarter. Thomas White International Ltd. now owns 123,546 shares of the bank’s stock valued at $2,573,000 after acquiring an additional 3,702 shares during the period. Parametric Portfolio Associates LLC grew its stake in Banco Latinoamericano de Comerci Extr by 0.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 326,500 shares of the bank’s stock valued at $6,801,000 after acquiring an additional 2,470 shares during the period. Beddow Capital Management Inc. grew its stake in Banco Latinoamericano de Comerci Extr by 10.2% in the 2nd quarter. Beddow Capital Management Inc. now owns 334,292 shares of the bank’s stock valued at $6,963,000 after acquiring an additional 30,939 shares during the period. Finally, Lee Danner & Bass Inc. grew its stake in Banco Latinoamericano de Comerci Extr by 2.3% in the 2nd quarter. Lee Danner & Bass Inc. now owns 605,614 shares of the bank’s stock valued at $12,615,000 after acquiring an additional 13,900 shares during the period. 15.49% of the stock is currently owned by hedge funds and other institutional investors.

About Banco Latinoamericano de Comerci Extr

Banco Latinoamericano de Comercio Exterior, SA, a multinational bank, primarily engages in the financing of foreign trade in Latin America and the Caribbean. The company operates through two segments, Commercial and Treasury. It offers short and medium-term bilateral, structured and syndicated credits, and loan commitments; letter of credit contingencies, such as issued and confirmed letters of credit, and stand-by letters of credit; and guarantees covering commercial risk and other assets.

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