Los Angeles Capital Management LLC has reduced its holdings in Banco Latinoamericano de Comercio Exterior, S.A. (NYSE: BLX) by 17.1% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission, the institutional investor now owns 18,875 shares after selling 3,905 shares in the period. The total value of Los Angeles Capital Management’s stake amounts to approximately $761,000, representing about 0.05% of the bank’s stock.
Several other institutional investors have also adjusted their positions in Banco Latinoamericano de Comercio Exterior recently. SBI Securities Co. Ltd. increased its stake by 36.8% in the first quarter, acquiring an additional 769 shares to reach a total of 2,859 shares valued at $105,000. Similarly, Ramirez Asset Management Inc. boosted its holdings by 20.3% in the second quarter, bringing its total to 35,718 shares worth $1.439 million after purchasing 6,020 shares. LSV Asset Management also increased its stake by 2.4% in the first quarter, now owning 1,185,460 shares valued at $43.388 million. In total, hedge funds and institutional investors own 19.47% of the company’s stock.
Analysts’ Insights on Banco Latinoamericano
Equities research analysts have provided varied ratings for Banco Latinoamericano. Weiss Ratings upgraded the bank from a “buy (B+)” to a “buy (A-)” in a report released on November 7, while Wall Street Zen downgraded the stock from a “buy” to a “hold” on November 8. Overall, data from MarketBeat.com indicates that the stock has a consensus rating of “Strong Buy” from analysts.
Banco Latinoamericano de Comercio Exterior’s stock opened at $44.12 on Friday, with a market capitalization of $1.64 billion, a price-to-earnings ratio of 7.34, and a beta of 0.90. The stock has experienced a 1-year low of $31.14 and a high of $48.38.
The bank recently reported its quarterly earnings on October 28, revealing earnings per share (EPS) of $1.48. It recorded a return on equity of 16.18% and a net margin of 26.58%, with total revenue of $82.78 million for the quarter. Analysts predict that Banco Latinoamericano will post $4.60 EPS for the current fiscal year.
Dividend Declaration and Company Profile
Alongside these developments, Banco Latinoamericano announced a quarterly dividend of $0.625 per share, scheduled for payment on November 25, 2023. Shareholders of record by November 10 will receive this dividend, which translates to an annualized payout of $2.50 and a yield of 5.7%. The company’s dividend payout ratio currently stands at 41.60%.
Banco Latinoamericano de Comercio Exterior, S.A. is a multinational bank that primarily focuses on financing foreign trade in Latin America and the Caribbean. The institution operates in two segments: Commercial and Treasury, offering a variety of financial products including bilateral loans, structured loans, and project financing.
