Banco Latinoamericano de Comerci Extr (NYSE:BLX) Stock Passes Above 200-Day Moving Average of $20.26

Banco Latinoamericano de Comerci Extr SA (NYSE:BLX)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.26 and traded as high as $21.97. Banco Latinoamericano de Comerci Extr shares last traded at $21.94, with a volume of 1,452 shares traded.

Several research analysts recently issued reports on BLX shares. ValuEngine downgraded Banco Latinoamericano de Comerci Extr from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 31st. CIBC lifted their price objective on Banco Latinoamericano de Comerci Extr from $24.00 to $25.00 in a research report on Wednesday, October 23rd. TheStreet upgraded Banco Latinoamericano de Comerci Extr from a “d+” rating to a “c” rating in a research report on Friday, August 2nd. Finally, Zacks Investment Research upgraded Banco Latinoamericano de Comerci Extr from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $23.00.

The stock has a market capitalization of $853.27 million, a PE ratio of 78.86 and a beta of 1.32. The company has a current ratio of 2.20, a quick ratio of 2.09 and a debt-to-equity ratio of 2.60. The company’s 50 day simple moving average is $20.10 and its 200 day simple moving average is $20.26.

Banco Latinoamericano de Comerci Extr (NYSE:BLX) last released its earnings results on Friday, October 18th. The bank reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.05). The firm had revenue of $29.52 million during the quarter, compared to analysts’ expectations of $35.00 million. Banco Latinoamericano de Comerci Extr had a return on equity of 8.46% and a net margin of 28.00%. As a group, analysts predict that Banco Latinoamericano de Comerci Extr SA will post 2.23 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, October 29th will be paid a $0.385 dividend. The ex-dividend date is Monday, October 28th. This represents a $1.54 annualized dividend and a yield of 6.97%. Banco Latinoamericano de Comerci Extr’s payout ratio is currently 550.00%.

Hedge funds have recently added to or reduced their stakes in the business. 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 worth $2,573,000 after acquiring an additional 3,702 shares during the period. Beddow Capital Management Inc. grew its stake in Banco Latinoamericano de Comerci Extr by 10.2% in the 2nd quarter. Beddow Capital Management Inc. now owns 334,292 shares of the bank’s stock worth $6,963,000 after acquiring an additional 30,939 shares during the period. 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 worth $6,801,000 after acquiring an additional 2,470 shares during the period. Lee Danner & Bass Inc. grew its stake in Banco Latinoamericano de Comerci Extr by 2.3% in the 2nd quarter. Lee Danner & Bass Inc. now owns 605,614 shares of the bank’s stock worth $12,615,000 after acquiring an additional 13,900 shares during the period. Finally, Rhumbline Advisers grew its stake in Banco Latinoamericano de Comerci Extr by 9.1% in the 3rd quarter. Rhumbline Advisers now owns 48,347 shares of the bank’s stock worth $964,000 after acquiring an additional 4,021 shares during the period. 15.49% of the stock is owned by hedge funds and other institutional investors.

About Banco Latinoamericano de Comerci Extr (NYSE:BLX)

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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