Banco Latinoamericano de Comerci Extr (NYSE:BLX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
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. “
Shares of Banco Latinoamericano de Comerci Extr (NYSE:BLX) traded down $0.13 during midday trading on Tuesday, reaching $30.06. The company’s stock had a trading volume of 93,531 shares, compared to its average volume of 130,173. The company has a market cap of $1,180.00, a price-to-earnings ratio of 15.82 and a beta of 1.64. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.63 and a quick ratio of 1.63. Banco Latinoamericano de Comerci Extr has a fifty-two week low of $25.51 and a fifty-two week high of $30.45.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Paradice Investment Management LLC boosted its holdings in shares of Banco Latinoamericano de Comerci Extr by 1.4% in the 3rd quarter. Paradice Investment Management LLC now owns 1,913,236 shares of the bank’s stock worth $56,326,000 after purchasing an additional 27,077 shares in the last quarter. Uniplan Investment Counsel Inc. purchased a new position in shares of Banco Latinoamericano de Comerci Extr in the 3rd quarter worth about $5,992,000. Schafer Cullen Capital Management Inc. boosted its holdings in shares of Banco Latinoamericano de Comerci Extr by 3.0% in the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 123,279 shares of the bank’s stock worth $3,375,000 after purchasing an additional 3,620 shares in the last quarter. Finally, Sterling Capital Management LLC purchased a new position in shares of Banco Latinoamericano de Comerci Extr in the 3rd quarter worth about $979,000. Hedge funds and other institutional investors own 15.75% 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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