Banco Latinoamericano de Comercio Exterior (NYSE:BLX) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

• Banco Latinoamericano de Comercio Exterior shares recently crossed above their 200-day moving average, with a current trading price of $47.65 compared to the average of $40.89.
• The bank reported $1.73 earnings per share for the last quarter and also announced a quarterly dividend of $0.625 per share, marking a 5.2% yield.
• Wall Street Zen upgraded the stock from a "hold" to a "buy" rating, reflecting positive analyst sentiment towards the bank's performance and outlook.

Banco Latinoamericano de Comercio Exterior, S.A. (NYSE:BLX - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $40.89 and traded as high as $48.37. Banco Latinoamericano de Comercio Exterior shares last traded at $47.65, with a volume of 121,017 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised 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 Stock Performance

The firm has a market cap of $1.75 billion, a PE ratio of 7.86 and a beta of 0.89. The firm has a fifty day simple moving average of $44.42 and a two-hundred day simple moving average of $41.06.

Banco Latinoamericano de Comercio Exterior (NYSE:BLX - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The bank reported $1.73 earnings per share for the quarter. The business 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%. Equities analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were issued a dividend of $0.625 per share. The ex-dividend date was Friday, August 15th. This represents a $2.50 dividend on an annualized basis and a yield of 5.3%. Banco Latinoamericano de Comercio Exterior's payout ratio is presently 41.88%.

Hedge Funds Weigh In On Banco Latinoamericano de Comercio Exterior

A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its holdings in Banco Latinoamericano de Comercio Exterior by 11.5% during the 2nd quarter. Rhumbline Advisers now owns 46,968 shares of the bank's stock valued at $1,893,000 after acquiring an additional 4,843 shares during the period. EMC Capital Management purchased a new position in Banco Latinoamericano de Comercio Exterior during the 2nd quarter valued at $273,000. LSV Asset Management boosted its holdings 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. PNC Financial Services Group Inc. purchased a new position in Banco Latinoamericano de Comercio Exterior during the 2nd quarter valued at $25,000. Finally, SBI Securities Co. Ltd. raised its position in Banco Latinoamericano de Comercio Exterior by 21.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,485 shares of the bank's stock valued at $140,000 after purchasing an additional 626 shares in the last quarter. Hedge funds and other institutional investors own 19.47% of the company's stock.

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.