Banco Latinoamericano de Comerci Extr (BLX) Raised to Neutral at JPMorgan Chase & Co.

Banco Latinoamericano de Comerci Extr (NYSE:BLX) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Thursday. The firm presently has a $28.00 price objective on the bank’s stock. JPMorgan Chase & Co.’s target price points to a potential downside of 4.37% from the stock’s current price.

Separately, Zacks Investment Research upgraded Banco Latinoamericano de Comerci Extr from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd.

Shares of Banco Latinoamericano de Comerci Extr (NYSE BLX) traded up $0.73 during trading hours on Thursday, reaching $29.28. The company’s stock had a trading volume of 14,408 shares, compared to its average volume of 115,971. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.32. The stock has a market cap of $1,108.91, a PE ratio of 13.73 and a beta of 1.65. Banco Latinoamericano de Comerci Extr has a 12 month low of $25.51 and a 12 month high of $30.50.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLX. Meeder Asset Management Inc. grew its holdings in shares of Banco Latinoamericano de Comerci Extr by 309.6% during the 4th quarter. Meeder Asset Management Inc. now owns 10,935 shares of the bank’s stock worth $293,000 after purchasing an additional 8,265 shares during the period. Sterling Capital Management LLC purchased a new position in shares of Banco Latinoamericano de Comerci Extr during the 3rd quarter worth $979,000. Hanson & Doremus Investment Management purchased a new position in shares of Banco Latinoamericano de Comerci Extr during the 4th quarter worth $4,187,000. Uniplan Investment Counsel Inc. purchased a new position in shares of Banco Latinoamericano de Comerci Extr during the 3rd quarter worth $5,992,000. Finally, Paradice Investment Management LLC grew its holdings in shares of Banco Latinoamericano de Comerci Extr by 2.0% during the 4th quarter. Paradice Investment Management LLC now owns 1,950,944 shares of the bank’s stock worth $52,480,000 after purchasing an additional 37,708 shares during the period. Institutional investors and hedge funds own 15.91% of the company’s stock.

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About Banco Latinoamericano de Comerci Extr

Banco Latinoamericano de Comercio Exterior, SA (the Bank) is a specialized multinational bank. The Bank is established to support the financing of trade and economic integration in Latin America and the Caribbean. The Company operates in two segments: Commercial and Treasury. The Bank’s Commercial segment incorporates all of the Bank’s financial intermediation and fees generated by the commercial portfolio activities, such as origination of bilateral and syndicated credits, short- and medium-term loans, acceptances and contingent credits.

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