Banco Latinoamericano de Comercio Exterior (NYSE:BLX) Sets New 52-Week High - Here's What Happened

Key Points

• Banco Latinoamericano de Comercio Exterior (NYSE:BLX) shares reached a new 52-week high of $43.73, up from a previous close of $42.70, during trading on Monday with a volume of 25,421 shares.
• Wall Street analysts upgraded Banco Latinoamericano from a "sell" rating to a "hold" rating, reflecting a shift in outlook for the stock.
• The bank declared a quarterly dividend of $0.625 per share, resulting in an annualized yield of 5.6%, to be paid on September 3rd.

Banco Latinoamericano de Comercio Exterior, S.A. (NYSE:BLX - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as $43.67 and last traded at $43.73, with a volume of 25421 shares changing hands. The stock had previously closed at $42.70.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Banco Latinoamericano de Comercio Exterior from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th.

Banco Latinoamericano de Comercio Exterior Stock Up 3.8%

The business's 50-day moving average price is $41.48 and its 200-day moving average price is $39.45. The firm has a market capitalization of $1.62 billion, a PE ratio of 7.40 and a beta of 0.88.

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

Banco Latinoamericano de Comercio Exterior Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Friday, August 15th. Banco Latinoamericano de Comercio Exterior's dividend payout ratio is presently 41.88%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new stake in shares of Banco Latinoamericano de Comercio Exterior during the 2nd quarter valued at $25,000. SBI Securities Co. Ltd. boosted its stake in Banco Latinoamericano de Comercio Exterior by 21.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,485 shares of the bank's stock worth $140,000 after purchasing an additional 626 shares during the period. Ramirez Asset Management Inc. boosted its stake in shares of Banco Latinoamericano de Comercio Exterior by 20.3% during the 2nd 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 period. LSV Asset Management raised its holdings in shares of Banco Latinoamericano de Comercio Exterior by 2.4% during the 1st quarter. LSV Asset Management now owns 1,185,460 shares of the bank's stock valued at $43,388,000 after purchasing an additional 27,285 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Banco Latinoamericano de Comercio Exterior by 4,087.0% in the 1st quarter. GAMMA Investing LLC now owns 26,462 shares of the bank's stock worth $969,000 after acquiring an additional 25,830 shares during the period. 19.47% of the stock is currently owned by institutional investors and hedge funds.

Banco Latinoamericano de Comercio Exterior Company Profile

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.

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