Martingale Asset Management L P Sells 6,349 Shares of Banco Latinoamericano de Comercio Exterior, S.A. $BLX

Key Points

• Martingale Asset Management has reduced its stake in Banco Latinoamericano de Comercio Exterior by 14.1%, selling 6,349 shares, leaving it with 38,794 shares valued at approximately $1.42 million.
• Banco Latinoamericano de Comercio Exterior announced a quarterly dividend of $0.625 per share, representing a dividend yield of 5.4% and an annualized payout of $2.50.
• The stock's recent performance shows a 1.3% increase with a market cap of $1.71 billion and a PE ratio of 7.70, indicating potential investor interest.

Martingale Asset Management L P lowered its holdings in Banco Latinoamericano de Comercio Exterior, S.A. (NYSE:BLX - Free Report) by 14.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,794 shares of the bank's stock after selling 6,349 shares during the quarter. Martingale Asset Management L P owned 0.11% of Banco Latinoamericano de Comercio Exterior worth $1,420,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its holdings in Banco Latinoamericano de Comercio Exterior by 36.8% in 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 during the last quarter. GAMMA Investing LLC grew 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 valued at $969,000 after buying an additional 25,830 shares during the last quarter. Finally, LSV Asset Management grew its holdings in Banco Latinoamericano de Comercio Exterior by 2.4% in the 1st 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. Institutional investors and hedge funds own 19.47% of the company's stock.

Banco Latinoamericano de Comercio Exterior Price Performance

Shares of Banco Latinoamericano de Comercio Exterior stock traded down $0.22 during midday trading on Friday, hitting $46.05. 13,375 shares of the company were exchanged, compared to its average volume of 124,920. The firm has a market cap of $1.71 billion, a P/E ratio of 7.72 and a beta of 0.88. Banco Latinoamericano de Comercio Exterior, S.A. has a 52 week low of $29.78 and a 52 week high of $47.43. The firm has a 50 day simple moving average of $42.60 and a 200-day simple moving average of $40.18.

Banco Latinoamericano de Comercio Exterior (NYSE:BLX - Get Free Report) last posted its earnings results on Monday, August 4th. The bank reported $1.73 EPS 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 research analysts expect that Banco Latinoamericano de Comercio Exterior, S.A. will post 4.6 earnings per share for the current year.

Banco Latinoamericano de Comercio Exterior Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be given a $0.625 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.50 annualized dividend and a yield of 5.4%. Banco Latinoamericano de Comercio Exterior's payout ratio is presently 41.88%.

Analysts Set New Price Targets

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

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.