Banco Latinoamericano de Comercio Exterior (NYSE:BLX) Rating Increased to Buy 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 investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Banco Latinoamericano de Comercio Exterior Price Performance

Banco Latinoamericano de Comercio Exterior stock traded up $0.32 during mid-day trading on Friday, reaching $44.90. 62,227 shares of the company traded hands, compared to its average volume of 134,047. The firm's 50 day moving average price is $42.14 and its 200 day moving average price is $39.85. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 7.52 and a beta of 0.88. Banco Latinoamericano de Comercio Exterior has a 52-week low of $29.55 and a 52-week high of $47.43.

Banco Latinoamericano de Comercio Exterior (NYSE:BLX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The bank reported $1.73 earnings per share (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. On average, sell-side analysts anticipate that Banco Latinoamericano de Comercio Exterior will post 4.6 EPS for the current year.

Institutional Trading of Banco Latinoamericano de Comercio Exterior

A number of hedge funds have recently modified their holdings of BLX. PNC Financial Services Group Inc. bought 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 holdings in shares of 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 buying an additional 769 shares in the last quarter. EMC Capital Management bought a new stake in shares of Banco Latinoamericano de Comercio Exterior during the 2nd quarter valued at $273,000. GAMMA Investing LLC boosted its holdings in shares of Banco Latinoamericano de Comercio Exterior by 4,087.0% during 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. boosted its holdings 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 in the last quarter. 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.