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Banco Latinoamericano De Comercio
(NYSE:BLX)
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Rating:69Neutral
Price Target:
$63.00
▲(5.63% Upside)
Action:Reiterated
Date:08/07/26
BLX scores solidly on strong current profitability, improved operating execution and reaffirmed guidance from the earnings call, and attractive valuation (low P/E with a high dividend yield). The score is tempered by balance-sheet and cash-flow volatility risks typical of banking and by softer near-term technical momentum (below short-term moving averages with mildly negative MACD).
Positive Factors
Strong profitability & revenue momentum
Sustained high TTM margins and a large revenue acceleration indicate durable earnings power and high operating leverage. This supports internal funding for loan growth, dividends and reserves, improving strategic flexibility even if cyclical volatility returns.
Negative Factors
Elevated leverage
Above-average debt-to-equity increases sensitivity to credit stress or market dislocations; a higher leverage base reduces buffer for losses and can force conservative lending or capital-raising if asset quality or funding conditions deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability & revenue momentum
Sustained high TTM margins and a large revenue acceleration indicate durable earnings power and high operating leverage. This supports internal funding for loan growth, dividends and reserves, improving strategic flexibility even if cyclical volatility returns.
Read all positive factors
Banco Latinoamericano De Comercio (BLX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.05B
Dividend Yield4.48%
Average Volume (3M)202.49K
Price to Earnings (P/E)9.7
Beta (1Y)0.54
Revenue Growth0.49%
EPS Growth1.51%
CountryUS
Employees175
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)6.06
Shares Outstanding28,736,597
10 Day Avg. Volume139,342
30 Day Avg. Volume202,486
Financial Highlights & Ratios
PEG Ratio0.80
Price to Book (P/B)0.99
Price to Sales (P/S)4.88
P/FCF Ratio4.47
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)6.48
Revenue Forecast (FY)$374.00M
Banco Latinoamericano De Comercio Business Overview & Revenue Model
Company Description
Bladex, Inc. (formerly Banco Latinoamericano de Comercio Exterior, S.A.), a multinational bank, engages in financing of foreign trade and economic integration in Latin America and the Caribbean. It operates through two segments, Commercial and Tre...
How the Company Makes Money
BLX primarily makes money through net interest income and fee-based income tied to trade-related banking activities. Net interest income is earned by funding itself (including through customer deposits, borrowings, and other funding sources) and d...
Banco Latinoamericano De Comercio Earnings Call Summary
Earnings Call Date:Jul 27, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call contained numerous strong operational and financial highlights: record commercial portfolio and deposits, record net income, a large QoQ surge in noninterest income that materially diversified revenue, improved efficiency, and sound liquidity and capital positions. Challenges were present—most notably margin compression (NIM down 10 bps), higher provisions and cost of risk, and a sequential decline in Tier 1 capital ratio—yet management framed these as expected or temporary effects of deploying capital and growing the book, and they reaffirmed guidance. On balance the positive operational momentum, revenue diversification, and profitability improvements outweigh the noted challenges.Positive Updates
Record Commercial Portfolio Growth
Commercial portfolio reached a record $13.0 billion, up 8% quarter-over-quarter and 20% year-over-year; loans were $10.5 billion (up 8% QoQ, 22% YoY) and contingencies €2.3 billion (up 11% QoQ, 5% YoY).
Negative Updates
Margin Compression and Competitive Spread Pressure
Net interest margin fell to 2.24%, down 10 basis points QoQ; net interest spread declined to 1.64%, driven by higher average liquidity and intense competition for high-quality short-term assets. Management noted margin pressure has been stronger than initially expected.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Commercial Portfolio Growth
Commercial portfolio reached a record $13.0 billion, up 8% quarter-over-quarter and 20% year-over-year; loans were $10.5 billion (up 8% QoQ, 22% YoY) and contingencies €2.3 billion (up 11% QoQ, 5% YoY).
Read all positive updates
Company Guidance
Management reaffirmed full‑year adjusted ROE guidance of 14–15% and said it is maintaining full‑year NIM guidance (Q2 NIM 2.24%, down 10 bps q/q; net interest spread 1.64%), and expects the efficiency ratio to finish the year in the 27–28% range (Q2 efficiency improved to 24.1% from 26.5% q/q) even as expenses rise in H2; Basel III Tier‑1 was 16.6% (down from 17.9% q/q but above the 15–16% operating range) and regulatory capital stood at 14.3%. Guiding assumptions rest on a $13.0B commercial portfolio (up 8% q/q, 20% y/y) — loans $10.5B (up 8% q/q, 22% y/y) and contingencies €2.3B (up 11% q/q) — funded by record deposits of $7.9B (up 8% q/q, 20% since Dec, ~64% of funding) and liquidity assets of $1.9B (13.3% of assets) plus a $1.4B treasury portfolio. Quarter context behind the guidance: Q2 net income $66.5M (up 18% q/q), H1 net income $122.8M, ROA ~2.0% (H1 1.9%), noninterest income ex‑hedging $25.1M (up 86% q/q; ~25–26% of revenues), net interest income $73.3M (up 4% q/q), provisions $8.6M (cost of risk 26 bps), total reserves $93.8M (coverage of impaired credit ~1.25%).Banco Latinoamericano De Comercio Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 605.64M | 339.60M | 810.60M | 683.41M | 330.75M | 155.74M |
| Gross Profit | 328.27M | 317.50M | 284.78M | 209.87M | 126.61M | 101.64M |
| EBITDA | 236.52M | 226.90M | 209.44M | 169.25M | 94.75M | 66.19M |
| Net Income | 233.87M | 226.90M | 205.87M | 166.16M | 92.04M | 62.70M |
Balance Sheet | ||||||
| Total Assets | 14.44B | 12.79B | 11.86B | 10.74B | 9.28B | 8.04B |
| Cash, Cash Equivalents and Short-Term Investments | 1.89B | 1.93B | 2.06B | 2.06B | 1.24B | 1.25B |
| Total Debt | 4.44B | 4.18B | 4.58B | 4.68B | 4.73B | 3.75B |
| Total Liabilities | 12.68B | 11.11B | 10.52B | 9.54B | 8.21B | 7.05B |
| Stockholders Equity | 1.76B | 1.68B | 1.34B | 1.20B | 1.07B | 991.79M |
Cash Flow | ||||||
| Free Cash Flow | 391.39M | 370.86M | -1.13B | 1.06B | -772.37M | -872.52M |
| Operating Cash Flow | 393.14M | 373.66M | -1.13B | 1.06B | -769.65M | -871.71M |
| Investing Cash Flow | -1.65B | -995.82M | -180.02M | -12.77M | -166.66M | -446.08M |
| Financing Cash Flow | 1.17B | 644.44M | 1.14B | -253.22M | 916.25M | 1.68B |
Banco Latinoamericano De Comercio Technical Analysis
Neutral
59.64
Price Trends
58.06
Negative
55.18
Positive
49.77
Positive
Market Momentum
-0.09
Positive
44.70
Neutral
12.78
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BLX, the sentiment is Neutral. The current price of 59.64 is above the 20-day moving average (MA) of 58.09, above the 50-day MA of 58.06, and above the 200-day MA of 49.77, indicating a neutral trend. The MACD of -0.09 indicates Positive momentum. The RSI at 44.70 is Neutral, neither overbought nor oversold. The STOCH value of 12.78 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BLX.
Banco Latinoamericano De Comercio Risk Analysis
Banco Latinoamericano De Comercio disclosed 33 risk factors in its most recent earnings report. Banco Latinoamericano De Comercio reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 2 New Risks
1.
The Bank's ability to maintain its competitive position depends, in part, on the success of new products and services it offers to its customers and on its ability to offer products and services that meet the customers' needs during the whole life cycle of the products or services. The Bank's failure to manage various risks it faces as it expands its range of products and services could have a material adverse effect on the Bank. Q4, 2023
2.
Inflation and corresponding increases in market interest rates may adversely affect the value of the Bank's financial instruments. Q4, 2023
Banco Latinoamericano De Comercio Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $2.23B | 10.53 | 15.92% | 2.48% | 4.56% | 19.51% | |
73 Outperform | $2.61B | 20.99 | 9.51% | 3.45% | 35.96% | 113.24% | |
72 Outperform | $1.05B | -129.95 | 4.64% | 1.43% | 10.89% | -58.49% | |
69 Neutral | $2.05B | 9.66 | 13.78% | 4.40% | 0.49% | 1.51% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | $4.11B | 27.45 | 6.79% | 1.84% | -0.28% | -56.93% | |
60 Neutral | $6.19B | 25.17 | 7.28% | 5.47% | 6.98% | 6551.65% |
* Financial Sector Average
BLX
Banco Latinoamericano De Comercio
56.99
17.04
42.66%
BMA
Banco Macro SA
83.65
16.70
24.94%
BBAR
Banco BBVA Argentina
17.11
1.07
6.68%
BUSE
First Busey
30.98
9.55
44.55%
OFG
OFG Bancorp
52.30
11.82
29.20%
EQBK
Equity Bancshares
50.94
14.42
39.47%
Banco Latinoamericano De Comercio Corporate Events
Bladex Reports Strong Mid‑2026 Balance Sheet Expansion in Latest Form 6‑K
Aug 3, 2026
On August 3, 2026, Bladex, Inc. filed an unaudited Form 6-K with the U.S. Securities and Exchange Commission, disclosing its condensed consolidated interim financial statements for June 30, 2026. The report, signed by Chief Financial Officer Annet...
Bladex Posts Record Q2 2026 Profit as Credit Portfolio and Deposits Reach New Highs
Jul 29, 2026
On July 27, 2026, Bladex reported record profitability for the second quarter of 2026, posting net profit of $66.5 million, or $1.77 per share, and $122.8 million for the first half, driven by higher average commercial balances, strong fee generat...
Bladex Declares US$0.6875 Quarterly Dividend for Second Quarter 2026
Jul 28, 2026
Bladex, Inc., a Panama-based multinational trade finance bank created by Latin American and Caribbean central banks, provides financing and related services to financial institutions and corporations across the region. Its diversified shareholder ...
Banco Latinoamericano de Comercio Wins S&P Upgrade to BBB+
Jun 23, 2026
On June 22, 2026, SP Global Ratings upgraded Bladex’s long-term issuer credit rating to BBB+ from BBB and affirmed its A-2 short-term rating, while also raising its senior unsecured notes to BBB+ and its Tier 1 hybrid notes to BB. The outloo...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.