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

Banco Latinoamericano de Comercio Exterior, S.A. (NYSE:BLX)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $51.74 and last traded at $51.6540, with a volume of 5026 shares traded. The stock had previously closed at $51.17.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Banco Latinoamericano de Comercio Exterior from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, January 26th. Wall Street Zen downgraded Banco Latinoamericano de Comercio Exterior from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. 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 firm has a market cap of $1.91 billion, a P/E ratio of 8.38 and a beta of 0.83. The company’s 50 day moving average is $45.99 and its two-hundred day moving average is $45.41.

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 for the quarter. Banco Latinoamericano de Comercio Exterior had a return on equity of 15.35% and a net margin of 27.11%.The company had revenue of $88.80 million for the quarter. Research analysts predict that Banco Latinoamericano de Comercio Exterior, S.A. will post 4.6 EPS for the current year.

Banco Latinoamericano de Comercio Exterior Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Wednesday, February 25th will be issued a dividend of $0.6875 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This is a positive change from Banco Latinoamericano de Comercio Exterior’s previous quarterly dividend of $0.63. This represents a $2.75 dividend on an annualized basis and a yield of 5.4%. Banco Latinoamericano de Comercio Exterior’s dividend payout ratio (DPR) is presently 40.92%.

Institutional Trading of Banco Latinoamericano de Comercio Exterior

A number of large investors have recently bought and sold shares of BLX. SBI Securities Co. Ltd. lifted its holdings in shares of Banco Latinoamericano de Comercio Exterior by 7.5% during the third quarter. SBI Securities Co. Ltd. now owns 3,746 shares of the bank’s stock valued at $172,000 after acquiring an additional 261 shares during the period. PNC Financial Services Group Inc. bought a new position in Banco Latinoamericano de Comercio Exterior during the 2nd quarter valued at about $25,000. Ramirez Asset Management Inc. boosted its position in Banco Latinoamericano de Comercio Exterior by 12.0% in the third 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. Diversified Trust Co. bought a new stake in Banco Latinoamericano de Comercio Exterior during the fourth quarter worth about $200,000. Finally, Rhumbline Advisers increased its holdings in shares of Banco Latinoamericano de Comercio Exterior by 11.5% during the second quarter. Rhumbline Advisers now owns 46,968 shares of the bank’s stock worth $1,893,000 after buying an additional 4,843 shares in the last quarter. 19.47% of the stock is currently owned by institutional investors.

About Banco Latinoamericano de Comercio Exterior

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.