Banco Latinoamericano de Comercio Exterior, S. A. (NYSE:BLX) Hits New 52-Week High After Dividend Announcement

Banco Latinoamericano de Comercio Exterior, S. A. (NYSE:BLX)’s stock price reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as $33.77 and last traded at $33.67, with a volume of 129254 shares. The stock had previously closed at $33.31.

The newly announced dividend which will be paid on Tuesday, August 20th. Stockholders of record on Monday, August 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.09%. Banco Latinoamericano de Comercio Exterior, S. A.’s dividend payout ratio (DPR) is presently 40.49%.

Analysts Set New Price Targets

Separately, Scotiabank lifted their price target on Banco Latinoamericano de Comercio Exterior, S. A. from $38.00 to $42.00 and gave the company a “sector outperform” rating in a research report on Wednesday, June 12th.

Banco Latinoamericano de Comercio Exterior, S. A. Stock Up 0.8 %

The stock has a 50-day moving average of $30.39 and a two-hundred day moving average of $28.49. The company has a market cap of $1.20 billion, a P/E ratio of 6.65 and a beta of 1.20. The company has a debt-to-equity ratio of 3.18, a quick ratio of 1.72 and a current ratio of 1.72.

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

Hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC lifted its position in Banco Latinoamericano de Comercio Exterior, S. A. by 21.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 55,805 shares of the bank’s stock worth $1,381,000 after buying an additional 9,771 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of Banco Latinoamericano de Comercio Exterior, S. A. during the first quarter valued at approximately $3,002,000. Finally, LSV Asset Management increased its stake in shares of Banco Latinoamericano de Comercio Exterior, S. A. by 0.9% during the first quarter. LSV Asset Management now owns 962,524 shares of the bank’s stock valued at $28,510,000 after buying an additional 9,038 shares during the period. Institutional investors own 19.47% of the company’s stock.

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 through two segments, Commercial and Treasury. It also 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.