NYSE:BLX

Stock Analysis Report

Banco Latinoamericano de Comercio Exterior

Executive Summary

Banco Latinoamericano de Comercio Exterior, S.A., a multinational bank, primarily engages in the financing of foreign trade in Latin America and the Caribbean.


Snowflake Analysis

Established dividend payer with proven track record.


Similar Companies

Share Price & News

How has Banco Latinoamericano de Comercio Exterior's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BLX has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-4.9%

BLX

-2.2%

US Diversified Financial

-4.2%

US Market


1 Year Return

3.9%

BLX

10.3%

US Diversified Financial

14.0%

US Market

Return vs Industry: BLX underperformed the US Diversified Financial industry which returned 10.3% over the past year.

Return vs Market: BLX underperformed the US Market which returned 14% over the past year.


Shareholder returns

BLXIndustryMarket
7 Day-4.9%-2.2%-4.2%
30 Day-11.5%-1.8%-1.8%
90 Day-11.5%1.6%2.6%
1 Year14.1%3.9%10.5%10.3%16.3%14.0%
3 Year-16.5%-31.7%29.2%28.8%43.2%34.0%
5 Year-16.1%-38.9%49.3%48.7%65.9%47.6%

Price Volatility Vs. Market

How volatile is Banco Latinoamericano de Comercio Exterior's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Banco Latinoamericano de Comercio Exterior undervalued compared to its fair value and its price relative to the market?

8.83x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BLX ($19.21) is trading above our estimate of fair value ($13.33)

Significantly Below Fair Value: BLX is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BLX is good value based on its PE Ratio (8.8x) compared to the Diversified Financial industry average (9.3x).

PE vs Market: BLX is good value based on its PE Ratio (8.8x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BLX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BLX is good value based on its PB Ratio (0.7x) compared to the US Diversified Financial industry average (0.8x).


Next Steps

Future Growth

How is Banco Latinoamericano de Comercio Exterior forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-72.2%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Banco Latinoamericano de Comercio Exterior has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Banco Latinoamericano de Comercio Exterior performed over the past 5 years?

-19.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BLX has high quality earnings.

Growing Profit Margin: BLX's current net profit margins (67.9%) are higher than last year (15.9%).


Past Earnings Growth Analysis

Earnings Trend: BLX's earnings have declined by -19.4% per year over the past 5 years.

Accelerating Growth: BLX's earnings growth over the past year (672.6%) exceeds its 5-year average (-19.4% per year).

Earnings vs Industry: BLX earnings growth over the past year (672.6%) exceeded the Diversified Financial industry 133.9%.


Return on Equity

High ROE: BLX's Return on Equity (8.5%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Banco Latinoamericano de Comercio Exterior's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: BLX has a low level of unsold assets or inventory.

Debt Coverage by Assets: BLX's debt is not covered by short term assets (assets are 0.4x debt).


Financial Institutions Analysis

Asset Level: BLX's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if BLX has a sufficient allowance for bad loans.

Low Risk Liabilities: BLX reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if BLX has an acceptable proportion of non-loan assets held.

Low Risk Deposits: BLX has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if BLX has an appropriate level of bad loans.


Next Steps

Dividend

What is Banco Latinoamericano de Comercio Exterior's current dividend yield, its reliability and sustainability?

8.02%

Current Dividend Yield


Dividend Yield vs Market

company8.0%marketbottom25%1.5%markettop25%3.8%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: BLX's dividend (8.02%) is higher than the bottom 25% of dividend payers in the US market (1.48%).

High Dividend: BLX's dividend (8.02%) is in the top 25% of dividend payers in the US market (3.77%)


Stability and Growth of Payments

Stable Dividend: BLX's dividends per share have been stable in the past 10 years.

Growing Dividend: BLX's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (70.8%), BLX's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.5yrs

Average management tenure


CEO

Natalio Gabriel Tolchinsky (56yo)

1.8yrs

Tenure

0

Mr. Natalio Gabriel Tolchinsky has been Chief Executive Officer at Banco Latinoamericano de Comercio Exterior, SA since April 30, 2018. He was Director of Banco Latinoamericano de Comercio Exterior, SA sin ...


Leadership Team

NamePositionTenureCompensationOwnership
Natalio Gabriel Tolchinsky
Chief Executive Officer1.8yrsno data0.013% $96.1k
Ana Graciela de Méndez
Executive VP of Finance & CFO2.2yrsno datano data
Erica Lijtztain
Executive VP & COO2yrsno datano data
Monica Cosulich
Senior VP of Finance & Investor Relations0yrsno datano data
Jorge Luis Real
Executive VP3.2yrsno datano data
Alejandro Tizzoni
Executive Executive Vice President & Chief Risk Officer3.8yrsno data0.0072% $55.1k
Alejandro Jaramillo
Executive VP of Business & Chief Commercial Officer2.8yrsno data0.0074% $56.6k
Jorge Córdoba
Executive VP & Chief Audit Officer2.3yrsno datano data
Eduardo Vivone
Executive Vice President of Treasury & Capital Markets6.4yrsno datano data

2.5yrs

Average Tenure

46.5yo

Average Age

Experienced Management: BLX's management team is considered experienced (2.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Mario Covo
Independent Director21.1yrsno data0.15% $1.1m
Ricardo Manuel Arango Jiménez
Director3.8yrsno data0.040% $305.4k
Herminio Alonso Blanco Mendoza
Independent Director16.1yrsno data0.20% $1.6m
Nicolas Ardito Barletta
Honorary Chairman0yrsno datano data
João Carlos de Nóbrega Pecego
Independent Director10.1yrsno data0.030% $230.5k
Roland Holst
Director2.3yrsno data0.045% $342.9k
Miguel Heras Castro
Chairman of the Board0.6yrsno data0.16% $1.2m
Javier Antonio González Fraga
Independent Director3.1yrsno data0.030% $230.5k
José Alberto Garzón Gaitán
Independent Director2.8yrsno data0.030% $230.5k
Isela Angelica Costantini
Director0.6yrsno datano data

3.1yrs

Average Tenure

55yo

Average Age

Experienced Board: BLX's board of directors are considered experienced (3.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Banco Latinoamericano de Comercio Exterior, S.A's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Banco Latinoamericano de Comercio Exterior, S.A
  • Ticker: BLX
  • Exchange: NYSE
  • Founded: 1977
  • Industry: Specialized Finance
  • Sector: Diversified Financials
  • Market Cap: US$760.760m
  • Shares outstanding: 39.60m
  • Website: https://www.bladex.com

Number of Employees


Location

  • Banco Latinoamericano de Comercio Exterior, S.A
  • Torre V, Business Park
  • Ave. La Rotonda
  • Panama City
  • Panama

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BLXNYSE (New York Stock Exchange)YesClass E Common StockUSUSDSep 1992
D8QDB (Deutsche Boerse AG)YesClass E Common StockDEEURSep 1992

Biography

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 offers short and medium-term bilateral, structured and syndicated credits, and loan commitments; letter of credit contingencies, such as issued and confirmed letters of credit, and stand-by letters of credit; and guarantees covering commercial risk and other assets. The company also provides treasury solutions. It primarily serves financial institutions, companies, and investors. The company was formerly known as Banco Latinoamericano de Exportaciones, S.A. and changed its name to Banco Latinoamericano de Comercio Exterior, S.A. in June 2009. Banco Latinoamericano de Comercio Exterior, S.A. was founded in 1977 and is headquartered in Panama City, the Republic of Panama. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 00:00
End of Day Share Price2020/02/24 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.