The Panic-Proof Portfolio (Stockchase Research)Banco Latinoamericano De Comercio Exterior SABLXTOP PICKNov 11, 2025

We reiterate BLX, a Latin American bank, as a TOP PICK.  Recently reported earnings showed all-time record commercial revenues and deposits, fueled by a 24% increase in fee and commission income.  Cash reserves are growing, while debt is retired.  The dividend is backed by a payout ratio under 50% of cash flow.  We continue to recommend a stop at $50.00, looking to achieve $66.50 -- upside potential of 22%.  Yield 5.2%

Our PAST TOP PICK with BLX is progressing well.  To remain disciplined, we recommend trailing up the stop (from $46) to $50 at this time.

Following the recent release of earnings, showing a 22% increase in deposits, we reiterate this Latin American bank based in Panama as a TOP PICK.  It trades at 8x earnings, 1.1x book, and supports a 15% ROE.  The robust dividend is backed by a payout ratio under 50% of cash flow and has grown by 17% annually over the past five years.  We continue to recommend a stop at $46, looking to achieve $60 — upside potential of 18%.  

Our PAST TOP PICK with BLX is progressing well.  To remain disciplined, we recommend trailing up the stop (from $40) to $46 at this time. 

Our PAST TOP PICK with BLX has achieved its target at $47.  To remain disciplined, we recommend covering half the position at this time and trailing up the stop (from $36) to $40.  

Our PAST TOP PICK with BLX is progressing well.  To remain well, we recommend trailing up the stop (from $32) to $36 at this time.  

BLX is the largest commercial bank operating in Panama.  Recently reported earnings showed a 23% increase in deposits as well as net income.  It trades at 7x earnings, at book value and supports a 16% ROE.  Cash reserves are growing, while supporting a robust dividend yield whose payout ratio is under 40% of cash flow.  We recommend setting a stop-loss at $32, looking to achieve $47 — upside potential of 24%.  Yield 5.6%