Zacks Investment Research Downgrades Banco Latinoamericano de Comercio Exterior, S.A. (BLX) to Sell

Banco Latinoamericano de Comercio Exterior, S.A. (NYSE:BLX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

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, BidaskClub downgraded Banco Latinoamericano de Comercio Exterior, from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Sell” and an average price target of $27.50.

Banco Latinoamericano de Comercio Exterior, (NYSE:BLX) opened at $29.10 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $1,140.00, a P/E ratio of 15.37 and a beta of 1.64. Banco Latinoamericano de Comercio Exterior, has a fifty-two week low of $25.51 and a fifty-two week high of $30.51.

Banco Latinoamericano de Comercio Exterior, (NYSE:BLX) last announced its quarterly earnings results on Friday, October 20th. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.04). The business had revenue of $31.07 million during the quarter, compared to analyst estimates of $37.94 million. Banco Latinoamericano de Comercio Exterior, had a net margin of 29.97% and a return on equity of 7.32%. equities analysts anticipate that Banco Latinoamericano de Comercio Exterior, will post 2.11 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of BLX. Uniplan Investment Counsel Inc. acquired a new stake in shares of Banco Latinoamericano de Comercio Exterior, in the third quarter valued at approximately $5,992,000. Hanson & Doremus Investment Management acquired a new stake in shares of Banco Latinoamericano de Comercio Exterior, in the second quarter valued at approximately $4,141,000. Paradice Investment Management LLC boosted its holdings in shares of Banco Latinoamericano de Comercio Exterior, by 4.3% in the second quarter. Paradice Investment Management LLC now owns 1,886,159 shares of the bank’s stock valued at $51,643,000 after acquiring an additional 77,600 shares during the period. Sterling Capital Management LLC acquired a new stake in shares of Banco Latinoamericano de Comercio Exterior, in the third quarter valued at approximately $979,000. Finally, LSV Asset Management boosted its holdings in shares of Banco Latinoamericano de Comercio Exterior, by 0.7% in the second quarter. LSV Asset Management now owns 1,860,019 shares of the bank’s stock valued at $50,927,000 after acquiring an additional 13,600 shares during the period. 15.67% of the stock is owned by institutional investors and hedge funds.

About Banco Latinoamericano de Comercio Exterior,

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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