Banco Latinoamericano de Comercio Exterior, S. A. (NYSE:BLX) Hits New 1-Year High After Strong Earnings

Banco Latinoamericano de Comercio Exterior, S. A. (NYSE:BLX)’s share price reached a new 52-week high on Friday following a better than expected earnings announcement. The company traded as high as $40.35 and last traded at $40.88, with a volume of 31777 shares. The stock had previously closed at $38.19.

The bank reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.33. The company had revenue of $78.40 million for the quarter, compared to the consensus estimate of $54.84 million. Banco Latinoamericano de Comercio Exterior, S. A. had a return on equity of 16.01% and a net margin of 24.29%.

Banco Latinoamericano de Comercio Exterior, S. A. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 10th will be given a $0.625 dividend. This is an increase from Banco Latinoamericano de Comercio Exterior, S. A.’s previous quarterly dividend of $0.50. This represents a $2.50 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend is Monday, March 10th. Banco Latinoamericano de Comercio Exterior, S. A.’s dividend payout ratio is currently 36.56%.

Institutional Trading of Banco Latinoamericano de Comercio Exterior, S. A.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC lifted its position in shares of Banco Latinoamericano de Comercio Exterior, S. A. by 5.7% in the fourth quarter. Sterling Capital Management LLC now owns 14,497 shares of the bank’s stock valued at $516,000 after acquiring an additional 779 shares in the last quarter. Motley Fool Wealth Management LLC purchased a new stake in shares of Banco Latinoamericano de Comercio Exterior, S. A. in the fourth quarter valued at $1,603,000. Hillsdale Investment Management Inc. lifted its position in shares of Banco Latinoamericano de Comercio Exterior, S. A. by 0.7% in the fourth quarter. Hillsdale Investment Management Inc. now owns 124,864 shares of the bank’s stock valued at $4,441,000 after acquiring an additional 900 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Banco Latinoamericano de Comercio Exterior, S. A. in the fourth quarter valued at $74,000. Finally, Longboard Asset Management LP purchased a new stake in shares of Banco Latinoamericano de Comercio Exterior, S. A. in the fourth quarter valued at $202,000. 19.47% of the stock is currently owned by hedge funds and other institutional investors.

Banco Latinoamericano de Comercio Exterior, S. A. Price Performance

The firm has a market capitalization of $1.55 billion, a PE ratio of 7.73 and a beta of 1.16. The company has a 50-day moving average price of $37.40 and a 200-day moving average price of $34.31. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.77 and a quick ratio of 1.77.

About Banco Latinoamericano de Comercio Exterior, S. A.

Banco Latinoamericano de Comercio Exterior, S. A., a multinational bank, primarily engages in the financing of foreign trade in Latin America and the Caribbean. The company operates in two segments, Commercial and Treasury. It offers bilateral loans; structured loans including syndicated and clubbed, such as acquisition and pre-export financing, A/B loan financing, bridge loans, and liability management; and project financing.