Banco Latinoamericano de Comercio Exterior (NYSE:BLX) Reaches New 52-Week High – Here’s What Happened

Banco Latinoamericano de Comercio Exterior, S.A. (NYSE:BLX) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $48.49 and last traded at $48.48, with a volume of 57356 shares changing hands. The stock had previously closed at $47.61.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BLX. Wall Street Zen lowered Banco Latinoamericano de Comercio Exterior from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings upgraded shares of Banco Latinoamericano de Comercio Exterior from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Strong Buy”.

Banco Latinoamericano de Comercio Exterior Stock Performance

The company has a market cap of $1.81 billion, a PE ratio of 8.07 and a beta of 0.84. The stock’s 50-day simple moving average is $44.92 and its 200 day simple moving average is $44.75.

Banco Latinoamericano de Comercio Exterior (NYSE:BLX) last announced its quarterly earnings data on Thursday, October 30th. The bank reported $1.48 earnings per share for the quarter. The company had revenue of $82.78 million for the quarter. Banco Latinoamericano de Comercio Exterior had a return on equity of 15.42% and a net margin of 26.58%. On average, sell-side analysts predict that Banco Latinoamericano de Comercio Exterior, S.A. will post 4.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Banco Latinoamericano de Comercio Exterior

Several hedge funds have recently modified their holdings of BLX. LSV Asset Management raised its position in shares of Banco Latinoamericano de Comercio Exterior by 2.4% in the 2nd quarter. LSV Asset Management now owns 1,213,835 shares of the bank’s stock worth $48,918,000 after buying an additional 28,375 shares during the period. EMC Capital Management acquired a new position in Banco Latinoamericano de Comercio Exterior in the 2nd quarter worth $273,000. Ramirez Asset Management Inc. boosted its holdings in Banco Latinoamericano de Comercio Exterior by 20.3% in the second quarter. Ramirez Asset Management Inc. now owns 35,718 shares of the bank’s stock valued at $1,439,000 after purchasing an additional 6,020 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Banco Latinoamericano de Comercio Exterior by 4.8% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 122,864 shares of the bank’s stock valued at $5,648,000 after buying an additional 5,600 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Banco Latinoamericano de Comercio Exterior by 11.5% during the 2nd quarter. Rhumbline Advisers now owns 46,968 shares of the bank’s stock valued at $1,893,000 after acquiring an additional 4,843 shares during the last quarter. 19.47% of the stock is owned by institutional investors and hedge funds.

Banco Latinoamericano de Comercio Exterior Company Profile

Banco Latinoamericano de Comercio Exterior SA, commonly known as BLADEx and traded on the New York Stock Exchange under the symbol BLX, is a multilateral financial institution dedicated to promoting foreign trade and regional integration in Latin America and the Caribbean. Headquartered in Panama City, the bank provides specialized trade finance solutions to corporate clients and financial institutions, helping to facilitate cross-border transactions across key markets in the region. Its services encompass import and export financing, supply chain solutions, project and structured finance, as well as treasury and risk management products.

Established in 1977 by a consortium of 20 Latin American and Caribbean governments in partnership with the Inter-American Development Bank (IDB), BLADEx has a mandate to support economic development through trade facilitation.