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

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Zacks Investment Research upgraded shares of Banco Latinoamericano de Comerci Extr (NYSE:BLX) from a strong sell rating to a hold rating in a research note released on Wednesday morning.

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. “

Separately, ValuEngine cut Banco Latinoamericano de Comerci Extr from a sell rating to a strong sell rating in a research report on Wednesday, August 15th.

Shares of BLX opened at $20.32 on Wednesday. Banco Latinoamericano de Comerci Extr has a twelve month low of $19.28 and a twelve month high of $30.50. The stock has a market cap of $823.52 million, a PE ratio of 9.69 and a beta of 1.44. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.12.

Banco Latinoamericano de Comerci Extr (NYSE:BLX) last announced its quarterly earnings results on Friday, July 20th. The bank reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.15). Banco Latinoamericano de Comerci Extr had a net margin of 29.16% and a return on equity of 7.39%. The company had revenue of $31.51 million for the quarter, compared to the consensus estimate of $34.29 million. As a group, sell-side analysts predict that Banco Latinoamericano de Comerci Extr will post 1.89 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of BLX. Paradice Investment Management LLC bought a new position in shares of Banco Latinoamericano de Comerci Extr in the second quarter worth approximately $52,937,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Banco Latinoamericano de Comerci Extr in the second quarter worth approximately $643,000. Motley Fool Wealth Management LLC increased its position in shares of Banco Latinoamericano de Comerci Extr by 2.2% in the second quarter. Motley Fool Wealth Management LLC now owns 372,823 shares of the bank’s stock worth $9,175,000 after purchasing an additional 8,057 shares during the last quarter. Finally, Globeflex Capital L P increased its position in shares of Banco Latinoamericano de Comerci Extr by 99.9% in the second quarter. Globeflex Capital L P now owns 55,437 shares of the bank’s stock worth $1,364,000 after purchasing an additional 27,701 shares during the last quarter. Institutional investors own 15.96% 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, collateral-backed, short and medium term trade, and pre-export financing structured loans; and discounting of notes, cross-border leasing, pre- and post-export financing, import financing, letters of credit, bank guarantees, documentary collection, irrevocable reimbursement undertakings, bankers' acceptance, vendor finance, and ECA-backed financing services.

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