Los Angeles Capital Management LLC has decreased its holdings in Banco Latinoamericano de Comercio Exterior, S.A. (NYSE:BLX) by 17.1% during the second quarter of 2023. According to the firm’s latest filing with the Securities and Exchange Commission, Los Angeles Capital now owns 18,875 shares of the bank’s stock, down from 22,780 shares. The current value of these holdings stands at approximately $761,000.
Several other institutional investors have also adjusted their positions in Banco Latinoamericano. Notably, SBI Securities Co. Ltd. increased its stake by 36.8% in the first quarter, bringing its ownership to 2,859 shares valued at $105,000. Meanwhile, Ramirez Asset Management Inc. raised its holdings by 20.3% in the second quarter, now owning 35,718 shares worth around $1.4 million. Additionally, LSV Asset Management grew its stake by 2.4% during the first quarter, resulting in holdings of 1,185,460 shares valued at approximately $43.4 million. Overall, institutional investors now hold 19.47% of the company’s stock.
Analyst Ratings and Stock Performance
Equities research analysts have been active in evaluating Banco Latinoamericano’s stock. On November 7, 2023, Weiss Ratings upgraded the bank’s status from a “buy (B+)” to a “buy (A-)” rating. Conversely, Wall Street Zen downgraded the stock from a “buy” to a “hold” on November 8, 2023. Currently, one analyst has issued a Strong Buy rating, while the consensus rating remains at “Strong Buy” according to data from MarketBeat.com.
As of the latest trading session, Banco Latinoamericano de Comercio Exterior’s stock opened at $44.12. The bank has a market capitalization of approximately $1.64 billion, a price-to-earnings ratio of 7.34, and a beta of 0.90. Over the past year, the stock has fluctuated between a low of $31.14 and a high of $48.38.
The bank recently released its quarterly earnings data on October 28, 2023, reporting earnings per share (EPS) of $1.48. Banco Latinoamericano achieved a return on equity of 16.18% and maintained a net margin of 26.58% during the quarter, with total revenue reaching $82.78 million. Analysts anticipate that the bank will report an EPS of 4.6 for the current fiscal year.
Dividend Announcement
In addition to its financial performance, Banco Latinoamericano has declared a quarterly dividend of $0.625 per share, set to be paid on November 25, 2023. Shareholders of record as of November 10, 2023, will receive this dividend, representing an annualized rate of $2.50 and a yield of 5.7%. The dividend payout ratio currently stands at 41.60%.
Banco Latinoamericano de Comercio Exterior, S.A. operates as a multinational bank focused on financing foreign trade in Latin America and the Caribbean. The institution provides various financial services, including bilateral loans and project financing, through its two main segments: Commercial and Treasury.
