Banco Latinoamericano de Comerci Extr (BLX) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Banco Latinoamericano de Comerci Extr (NYSE:BLX) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Banco Latinoamericano de Exportaciones, S.A. was established to finance the foreign trade of the countries in the Latin American and Caribbean region. The Bank focuses on short-term trade-related loans to borrowers who then loan the funds to various businesses and govermnent institutions involved in foreign trade. “

Separately, ValuEngine lowered Banco Latinoamericano de Comerci Extr from a sell rating to a strong sell rating in a research note on Wednesday, August 15th.

Shares of BLX opened at $20.32 on Wednesday. The company has a market capitalization of $823.52 million, a price-to-earnings ratio of 9.69 and a beta of 1.44. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.12. Banco Latinoamericano de Comerci Extr has a 1 year low of $19.28 and a 1 year high of $30.50.

Banco Latinoamericano de Comerci Extr (NYSE:BLX) last issued its earnings results on Friday, July 20th. The bank reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.15). The firm had revenue of $31.51 million during the quarter, compared to analysts’ expectations of $34.29 million. Banco Latinoamericano de Comerci Extr had a return on equity of 7.39% and a net margin of 29.16%. Sell-side analysts anticipate that Banco Latinoamericano de Comerci Extr will post 1.89 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Banco Latinoamericano de Comerci Extr in the second quarter worth approximately $643,000. Globeflex Capital L P boosted its stake in Banco Latinoamericano de Comerci Extr by 99.9% in the second quarter. Globeflex Capital L P now owns 55,437 shares of the bank’s stock worth $1,364,000 after buying an additional 27,701 shares in the last quarter. Motley Fool Wealth Management LLC boosted its stake in Banco Latinoamericano de Comerci Extr by 2.2% in the second quarter. Motley Fool Wealth Management LLC now owns 372,823 shares of the bank’s stock worth $9,175,000 after buying an additional 8,057 shares in the last quarter. Finally, Paradice Investment Management LLC purchased a new stake in Banco Latinoamericano de Comerci Extr in the second quarter worth approximately $52,937,000. 15.96% of the stock is owned by institutional investors and hedge funds.

Banco Latinoamericano de Comerci Extr Company Profile

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, collateral-backed, short and medium term trade, and pre-export financing structured loans; and discounting of notes, cross-border leasing, pre- and post-export financing, import financing, letters of credit, bank guarantees, documentary collection, irrevocable reimbursement undertakings, bankers' acceptance, vendor finance, and ECA-backed financing services.

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