Banco Latinoamericano de Comercio Exterior (NYSE:BLX) Share Price Crosses Above 200 Day Moving Average - Here's Why

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)'s share price passed 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.

Analyst Upgrades and Downgrades

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

Banco Latinoamericano de Comercio Exterior Stock Performance

The stock has a 50 day moving average of $44.00 and a two-hundred day moving average of $40.89. The stock has a market cap of $1.77 billion, a PE ratio of 7.98 and a beta of 0.89.

Banco Latinoamericano de Comercio Exterior (NYSE:BLX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The bank reported $1.73 earnings per share for the quarter. The firm had revenue of $90.04 million for the quarter. Banco Latinoamericano de Comercio Exterior had a return on equity of 16.23% and a net margin of 26.32%. Analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Friday, August 15th. Banco Latinoamericano de Comercio Exterior's payout ratio is 41.88%.

Hedge Funds Weigh In On Banco Latinoamericano de Comercio Exterior

Several institutional investors and hedge funds have recently bought and sold shares of BLX. PNC Financial Services Group Inc. purchased a new position in Banco Latinoamericano de Comercio Exterior during the 2nd quarter valued at about $25,000. SBI Securities Co. Ltd. grew its stake in Banco Latinoamericano de Comercio Exterior by 36.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,859 shares of the bank's stock valued at $105,000 after acquiring an additional 769 shares in the last quarter. EMC Capital Management purchased a new position in Banco Latinoamericano de Comercio Exterior during the 2nd quarter valued at about $273,000. GAMMA Investing LLC grew its stake in shares of 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 valued at $969,000 after buying an additional 25,830 shares in the last quarter. Finally, Ramirez Asset Management Inc. grew its stake in shares of Banco Latinoamericano de Comercio Exterior by 20.3% in 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 in 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, 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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