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 $63.20 and last traded at $61.7370, with a volume of 118656 shares changing hands. The stock had previously closed at $61.47.

Wall Street Analyst Weigh In

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

Banco Latinoamericano de Comercio Exterior Price Performance

The company has a market cap of $2.28 billion, a P/E ratio of 10.20 and a beta of 0.81. 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 firm’s fifty day moving average is $56.72 and its two-hundred day moving average is $51.26.

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

Banco Latinoamericano de Comercio Exterior Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 8th were paid a $0.6875 dividend. This represents a $2.75 annualized dividend and a yield of 4.5%. The ex-dividend date was Friday, May 8th. Banco Latinoamericano de Comercio Exterior’s dividend payout ratio is presently 45.68%.

Hedge Funds Weigh In On Banco Latinoamericano de Comercio Exterior

Several hedge funds have recently modified their holdings of BLX. Diversified Trust Co. bought a new position in shares of Banco Latinoamericano de Comercio Exterior during the fourth quarter worth $200,000. Diversified Trust Co lifted its stake in 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 purchasing an additional 2,827 shares in the last quarter. Ramirez Asset Management Inc. boosted its holdings in shares of Banco Latinoamericano de Comercio Exterior by 12.0% during the 3rd quarter. Ramirez Asset Management Inc. now owns 39,988 shares of the bank’s stock valued at $1,838,000 after purchasing an additional 4,270 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Banco Latinoamericano de Comercio Exterior by 1.3% during 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 last quarter. Hedge funds and other institutional investors own 19.47% of the company’s stock.

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.