Banco Latinoamericano de Comercio Exterior (NYSE:BLX) Upgraded at Wall Street Zen

Key Points

• Banco Latinoamericano de Comercio Exterior (NYSE:BLX) was upgraded from a "hold" to a "buy" rating by Wall Street Zen, signaling increased confidence among analysts.
• The stock experienced a 1.6% decline, closing at $44.85, despite having a market capitalization of $1.67 billion and a PE ratio of 7.51.
• Institutional investors have actively increased their stakes in the bank, with GAMMA Investing LLC raising its position by 4,087% in the first quarter of this year.

Banco Latinoamericano de Comercio Exterior (NYSE:BLX - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Banco Latinoamericano de Comercio Exterior Stock Down 1.6%

NYSE BLX opened at $44.85 on Friday. Banco Latinoamericano de Comercio Exterior has a twelve month low of $29.44 and a twelve month high of $47.43. The firm has a market capitalization of $1.67 billion, a PE ratio of 7.51 and a beta of 0.88. The stock's 50 day moving average is $41.94 and its 200 day moving average is $39.71.

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. Banco Latinoamericano de Comercio Exterior had a return on equity of 16.23% and a net margin of 26.32%. The company had revenue of $90.04 million for the quarter. On average, research analysts anticipate that Banco Latinoamericano de Comercio Exterior will post 4.6 earnings per share for the current year.

Institutional Investors Weigh In On Banco Latinoamericano de Comercio Exterior

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in 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. SBI Securities Co. Ltd. raised its stake in Banco Latinoamericano de Comercio Exterior by 36.8% during the first quarter. SBI Securities Co. Ltd. now owns 2,859 shares of the bank's stock valued at $105,000 after buying an additional 769 shares during the last quarter. LSV Asset Management raised its stake in Banco Latinoamericano de Comercio Exterior by 2.4% during the first quarter. LSV Asset Management now owns 1,185,460 shares of the bank's stock valued at $43,388,000 after buying an additional 27,285 shares during the last quarter. Ramirez Asset Management Inc. raised its stake in 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. Finally, PNC Financial Services Group Inc. purchased a new position in Banco Latinoamericano de Comercio Exterior during the second quarter valued at $25,000. 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.

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