Banco Latinoamericano de Comercio Exterior (NYSE:BLX) Reaches New 1-Year High - Should You Buy?

Key Points

• Banco Latinoamericano de Comercio Exterior shares hit a new 52-week high of $47.65, marking a significant trading increase.
• Wall Street analyst firm Wall Street Zen upgraded the bank's stock rating from "hold" to "buy" on August 16, 2023.
• The company announced a quarterly dividend of $0.625, translating to an annualized yield of 5.2%, with a payout ratio of 41.88%.

Shares of Banco Latinoamericano de Comercio Exterior, S.A. (NYSE:BLX - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $47.65 and last traded at $47.60, with a volume of 38279 shares trading hands. The stock had previously closed at $46.93.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Banco Latinoamericano de Comercio Exterior from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th.

Banco Latinoamericano de Comercio Exterior Price Performance

The firm has a market capitalization of $1.75 billion, a PE ratio of 7.87 and a beta of 0.89. The firm's fifty day moving average is $44.00 and its two-hundred day moving average is $40.89.

Banco Latinoamericano de Comercio Exterior (NYSE:BLX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The bank reported $1.73 EPS for the quarter. Banco Latinoamericano de Comercio Exterior had a net margin of 26.32% and a return on equity of 16.23%. The business had revenue of $90.04 million for the quarter. As a group, equities research analysts predict that Banco Latinoamericano de Comercio Exterior, S.A. will post 4.6 EPS for the current fiscal year.

Banco Latinoamericano de Comercio Exterior Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were paid a $0.625 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.3%. Banco Latinoamericano de Comercio Exterior's dividend payout ratio is 41.88%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. LSV Asset Management lifted its position in Banco Latinoamericano de Comercio Exterior by 2.4% during the 2nd quarter. LSV Asset Management now owns 1,213,835 shares of the bank's stock valued at $48,918,000 after acquiring an additional 28,375 shares during the period. Rhumbline Advisers lifted its holdings in Banco Latinoamericano de Comercio Exterior by 11.5% during the second quarter. Rhumbline Advisers now owns 46,968 shares of the bank's stock valued at $1,893,000 after purchasing an additional 4,843 shares in the last quarter. Ramirez Asset Management Inc. raised its position in shares of Banco Latinoamericano de Comercio Exterior by 20.3% during the second quarter. Ramirez Asset Management Inc. now owns 35,718 shares of the bank's stock valued at $1,439,000 after buying an additional 6,020 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Banco Latinoamericano de Comercio Exterior by 4,087.0% during the first quarter. GAMMA Investing LLC now owns 26,462 shares of the bank's stock valued at $969,000 after buying an additional 25,830 shares during the last quarter. Finally, EMC Capital Management bought a new stake in Banco Latinoamericano de Comercio Exterior in the second quarter worth $273,000. 19.47% of the stock is currently owned by institutional investors.

About Banco Latinoamericano de Comercio Exterior

Banco Latinoamericano de Comercio Exterior, S. A., a multinational bank, primarily engages in the financing of foreign trade in Latin America and the Caribbean. The company operates in two segments, Commercial and Treasury. It offers bilateral loans; structured loans including syndicated and clubbed, such as acquisition and pre-export financing, A/B loan financing, bridge loans, and liability management; and project financing.