Banco Latinoamericano de Comercio Exterior, S.A. to Issue Quarterly Dividend of $0.39 (NYSE:BLX)

Banco Latinoamericano de Comercio Exterior, S.A. (NYSE:BLX) announced a quarterly dividend on Thursday, July 20th, NASDAQ reports. Shareholders of record on Wednesday, August 2nd will be given a dividend of 0.385 per share by the bank on Thursday, August 17th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date is Monday, July 31st.

Banco Latinoamericano de Comercio Exterior, has increased its dividend by an average of 8.7% per year over the last three years. Banco Latinoamericano de Comercio Exterior, has a dividend payout ratio of 70.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Banco Latinoamericano de Comercio Exterior, to earn $2.70 per share next year, which means the company should continue to be able to cover its $1.54 annual dividend with an expected future payout ratio of 57.0%.

Banco Latinoamericano de Comercio Exterior, (NYSE BLX) traded down 0.80% during mid-day trading on Wednesday, hitting $26.08. 115,321 shares of the company were exchanged. The stock has a market cap of $1.03 billion, a P/E ratio of 12.48 and a beta of 1.61. Banco Latinoamericano de Comercio Exterior, has a 12-month low of $25.17 and a 12-month high of $30.51. The company has a 50 day moving average of $27.47 and a 200 day moving average of $27.69.

Banco Latinoamericano de Comercio Exterior, (NYSE:BLX) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.21. Banco Latinoamericano de Comercio Exterior, had a return on equity of 8.09% and a net margin of 31.94%. The company had revenue of $34.41 million for the quarter. On average, equities research analysts expect that Banco Latinoamericano de Comercio Exterior, will post $2.20 earnings per share for the current fiscal year.

A number of brokerages have issued reports on BLX. BidaskClub downgraded Banco Latinoamericano de Comercio Exterior, from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded Banco Latinoamericano de Comercio Exterior, from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, J P Morgan Chase & Co downgraded Banco Latinoamericano de Comercio Exterior, from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $28.00 to $26.00 in a research note on Friday, July 21st. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Banco Latinoamericano de Comercio Exterior, presently has an average rating of “Hold” and a consensus target price of $27.50.

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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.