Can Panama company documents be apostilled?

Yes. Panama has been a party to the Hague Apostille Convention since 1991, so apostilled Panamanian documents are accepted in other member countries without consular legalisation. Banks abroad usually want the registered articles and a recent registry certificate with an apostille, plus a certified translation if they do not read Spanish.

Certification and apostille

Source: Status table: Convention abolishing the requirement of legalisation for foreign public documents, Hague Conference on Private International Law (HCCH)