Banco Latinoamericano de Comercio Exterior (NYSE:BLX) Reaches New 12-Month High – Here’s Why

Banco Latinoamericano de Comercio Exterior, S.A. (NYSE:BLX)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $63.20 and last traded at $61.7370, with a volume of 118656 shares changing hands. The stock had previously closed at $61.47.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Banco Latinoamericano de Comercio Exterior from a “buy (a)” rating to a “buy (a-)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company presently has a consensus rating of “Strong Buy”.

Banco Latinoamericano de Comercio Exterior Price Performance

The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.52 and a current ratio of 1.52. The business’s fifty day simple moving average is $56.87 and its 200 day simple moving average is $51.47. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 9.84 and a beta of 0.79.

Banco Latinoamericano de Comercio Exterior (NYSE:BLX) last announced its earnings results on Tuesday, April 28th. The bank reported $1.31 earnings per share for the quarter. Banco Latinoamericano de Comercio Exterior had a return on equity of 14.36% and a net margin of 27.77%.The company had revenue of $83.10 million during the quarter.

Banco Latinoamericano de Comercio Exterior Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 8th were paid a dividend of $0.6875 per share. This represents a $2.75 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Friday, May 8th. Banco Latinoamericano de Comercio Exterior’s dividend payout ratio (DPR) is 45.68%.

Hedge Funds Weigh In On Banco Latinoamericano de Comercio Exterior

Institutional investors and hedge funds have recently made changes to their positions in the business. LSV Asset Management increased its stake in Banco Latinoamericano de Comercio Exterior by 1.3% during the fourth 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 last quarter. Diversified Trust Co. acquired a new stake in shares of Banco Latinoamericano de Comercio Exterior during the fourth quarter worth $200,000. Ramirez Asset Management Inc. lifted its position in shares of 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 worth $1,838,000 after buying an additional 4,270 shares during the last quarter. Finally, Diversified Trust Co lifted its position in shares of Banco Latinoamericano de Comercio Exterior by 63.0% in the 1st quarter. Diversified Trust Co now owns 7,316 shares of the bank’s stock worth $374,000 after buying an additional 2,827 shares during the last quarter. 19.47% of the stock is currently owned by hedge funds and other 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.