Ramirez Asset Management Inc. Raises Stock Position in Banco Latinoamericano de Comercio Exterior, S.A. $BLX

Key Points

• Ramirez Asset Management Inc. increased its holdings in Banco Latinoamericano de Comercio Exterior by 20.3% during the second quarter, now owning approximately 0.10% of the company's shares valued at $1,439,000.
• Several institutional investors have also raised their positions, with SBI Securities increasing its stake by 36.8% and GAMMA Investing growing its holdings by an impressive 4,087.0%.
• The stock is currently rated as a "Buy" by analysts, following upgrades by brokerages such as Wall Street Zen, indicating positive sentiment in the market.

Ramirez Asset Management Inc. grew its position in shares of Banco Latinoamericano de Comercio Exterior, S.A. (NYSE:BLX - Free Report) by 20.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,718 shares of the bank's stock after purchasing an additional 6,020 shares during the period. Ramirez Asset Management Inc. owned approximately 0.10% of Banco Latinoamericano de Comercio Exterior worth $1,439,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. grew its position in Banco Latinoamericano de Comercio Exterior by 36.8% in the first quarter. SBI Securities Co. Ltd. now owns 2,859 shares of the bank's stock worth $105,000 after acquiring an additional 769 shares in the last quarter. GAMMA Investing LLC lifted its stake in Banco Latinoamericano de Comercio Exterior by 4,087.0% in the first quarter. GAMMA Investing LLC now owns 26,462 shares of the bank's stock worth $969,000 after purchasing an additional 25,830 shares during the last quarter. Finally, LSV Asset Management lifted its stake in Banco Latinoamericano de Comercio Exterior by 2.4% in the first quarter. LSV Asset Management now owns 1,185,460 shares of the bank's stock worth $43,388,000 after purchasing an additional 27,285 shares during the last quarter. Hedge funds and other institutional investors own 19.47% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BLX. Wall Street Zen raised shares of Banco Latinoamericano de Comercio Exterior from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Weiss Ratings reissued a "buy (b+)" rating on shares of Banco Latinoamericano de Comercio Exterior in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy".

Banco Latinoamericano de Comercio Exterior Stock Performance

Banco Latinoamericano de Comercio Exterior stock opened at $44.76 on Friday. The company has a 50 day moving average price of $45.54 and a 200-day moving average price of $41.78. Banco Latinoamericano de Comercio Exterior, S.A. has a fifty-two week low of $31.14 and a fifty-two week high of $48.38. The company has a market capitalization of $1.67 billion, a PE ratio of 7.50 and a beta of 0.89.

Banco Latinoamericano de Comercio Exterior (NYSE:BLX - Get Free Report) last posted 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 net margin of 26.32% and a return on equity of 16.23%. The firm had revenue of $90.04 million during the quarter. On average, analysts forecast 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 was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Friday, August 15th. Banco Latinoamericano de Comercio Exterior's dividend payout ratio (DPR) is presently 41.88%.

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.

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