Bladex Inc Dossier
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SectorFinancials IndustryBanks - Regional Beta (adjusted)0.86 Intrinsic Value $97.00median of 3 methodsbased on filings through 31 Dec 2024 Market Price $55.21Price as of 1 Oct 2026 Significantly undervaluedIntrinsic value is 76% above the market price −50% · IV below pricenear fair value ±15%IV above price · +50% marker beyond scale (+76%) Data confidence Sign in to view data confidence Market Cap $2.1B Enterprise Value $4.5B Shares Outstanding 36.7M diluted Moat Rating Narrow Next Earnings Date28 Oct 2026 Last ex-dividend7 Aug 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Bladex, Inc. (formerly Foreign Trade Bank of Latin America, Inc.) represents a highly resilient, specialized trade finance powerhouse with a unique supranational structure backed by 23 Latin American central banks. The bank is firing on all cylinders, having achieved a record $12 billion commercial portfolio in Q1 2026 while maintaining pristine asset quality (NPLs at 0.4%) and an industry-leading efficiency ratio of 26.5%. With a structurally short-duration portfolio (two-thirds maturing in under a year), Bladex possesses exceptional agility to navigate macroeconomic shifts and interest rate volatility. Trading at a highly attractive valuation of under 10x P/E and offering a robust dividend yield of over 4.5%, the stock is significantly undervalued relative to its long-term growth potential under its newly unveiled 2030 strategic plan. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$57.00 Mean target$64.65 High · most bullish analyst$68.00 Our research · scenarios, merits, risks, and invalidation triggersResearch as of 18 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $57.00 Severe macroeconomic downturns or political instability across key Latin American markets (e.g., Brazil, Mexico) lead to a contraction in regional trade volumes and rising credit defaults. Intense competitive pressures from local commercial banks compress net interest margins below 2.10%, dragging ROE down to the low double digits. Base CaseCentral scenario $64.65 Matches the consensus meanBladex steadily expands its commercial portfolio at an 8-10% annual pace, maintaining its ROE within the guided 13-15% range. Operational efficiency remains tight between 25-27%, and credit quality remains robust with NPLs below 0.5%. The stock undergoes moderate multiple expansion toward its historical fair value. Bull CaseUpside scenario $68.00 Accelerated execution of the 2030 strategic plan drives the commercial portfolio toward the upper bound of $20 billion, while fee-based non-interest income surges past targets due to successful digital platform rollouts and structured syndications. Spreads widen as regional trade volumes boom, pushing ROE consistently above 16% and prompting further dividend hikes. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
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All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |