Banco Latinoamericano de Comerci Extr (NYSE:BLX) Upgraded at Zacks Investment Research

Banco Latinoamericano de Comerci Extr (NYSE:BLX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The brokerage presently has a $22.00 price objective on the bank’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.72% from the company’s current price.

According to Zacks, “Banco Latinoamericano de Exportaciones, S.A. was established to finance the foreign trade of the countries in the Latin American and Caribbean region. The Bank focuses on short-term trade-related loans to borrowers who then loan the funds to various businesses and govermnent institutions involved in foreign trade. “

A number of other research analysts also recently weighed in on BLX. TheStreet upgraded shares of Banco Latinoamericano de Comerci Extr from a “d+” rating to a “c” rating in a report on Friday, August 2nd. ValuEngine downgraded shares of Banco Latinoamericano de Comerci Extr from a “sell” rating to a “strong sell” rating in a report on Saturday, August 31st. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $22.60.



BLX stock traded up $0.25 during midday trading on Wednesday, reaching $19.87. The company had a trading volume of 75,238 shares, compared to its average volume of 81,688. Banco Latinoamericano de Comerci Extr has a 1 year low of $15.31 and a 1 year high of $22.95. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $776.13 million, a P/E ratio of 70.96 and a beta of 1.32. The company has a 50 day moving average of $19.24 and a two-hundred day moving average of $20.30.

Banco Latinoamericano de Comerci Extr (NYSE:BLX) last released its earnings results on Friday, July 19th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Banco Latinoamericano de Comerci Extr had a net margin of 7.80% and a return on equity of 7.92%. The company had revenue of $33.63 million during the quarter, compared to the consensus estimate of $34.31 million. On average, sell-side analysts anticipate that Banco Latinoamericano de Comerci Extr will post 2.2 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in BLX. Beddow Capital Management Inc. raised its holdings in shares of Banco Latinoamericano de Comerci Extr by 10.2% during the 2nd quarter. Beddow Capital Management Inc. now owns 334,292 shares of the bank’s stock valued at $6,963,000 after purchasing an additional 30,939 shares in the last quarter. Lee Danner & Bass Inc. raised its holdings in shares of Banco Latinoamericano de Comerci Extr by 2.3% during the 2nd quarter. Lee Danner & Bass Inc. now owns 605,614 shares of the bank’s stock valued at $12,615,000 after purchasing an additional 13,900 shares in the last quarter. Thomas White International Ltd. grew its stake in Banco Latinoamericano de Comerci Extr by 3.1% in the 2nd quarter. Thomas White International Ltd. now owns 123,546 shares of the bank’s stock valued at $2,573,000 after buying an additional 3,702 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in Banco Latinoamericano de Comerci Extr by 0.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 326,500 shares of the bank’s stock valued at $6,801,000 after buying an additional 2,470 shares during the last quarter. Institutional investors and hedge funds own 15.48% of the company’s stock.

Banco Latinoamericano de Comerci Extr Company Profile

Banco Latinoamericano de Comercio Exterior, SA, a multinational bank, primarily engages in the financing of foreign trade in Latin America and the Caribbean. The company operates through two segments, Commercial and Treasury. It offers short and medium-term bilateral, structured and syndicated credits, and loan commitments; letter of credit contingencies, such as issued and confirmed letters of credit, and stand-by letters of credit; and guarantees covering commercial risk and other assets.

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