Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) Rating Lowered to Strong Sell at BidaskClub

Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Wednesday, October 18th.

Several other equities research analysts also recently weighed in on BSMX. TheStreet raised shares of Grupo Financiero Santander Mexico S.A. B. de C.V. from a “c” rating to a “b-” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised shares of Grupo Financiero Santander Mexico S.A. B. de C.V. from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Tuesday, August 22nd. Finally, ValuEngine downgraded shares of Grupo Financiero Santander Mexico S.A. B. de C.V. from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $9.70.

Shares of Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) traded up 1.65% during trading on Wednesday, hitting $8.60. The stock had a trading volume of 4,860,595 shares. The stock’s 50 day moving average is $9.74 and its 200 day moving average is $9.74. The stock has a market capitalization of $11.66 billion, a price-to-earnings ratio of 11.24 and a beta of 1.38. Grupo Financiero Santander Mexico S.A. B. de C.V. has a 52 week low of $6.73 and a 52 week high of $10.82.

Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) last posted its quarterly earnings results on Friday, July 28th. The bank reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Grupo Financiero Santander Mexico S.A. B. de C.V. had a net margin of 15.97% and a return on equity of 15.11%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $963.79 million. On average, equities research analysts expect that Grupo Financiero Santander Mexico S.A. B. de C.V. will post $0.72 earnings per share for the current fiscal year.

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A number of hedge funds have recently modified their holdings of BSMX. Principal Financial Group Inc. bought a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. in the 2nd quarter worth about $23,484,000. Global X Management Co. LLC bought a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. in the 2nd quarter worth about $10,334,000. JPMorgan Chase & Co. grew its position in Grupo Financiero Santander Mexico S.A. B. de C.V. by 247.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 738,423 shares of the bank’s stock worth $7,117,000 after purchasing an additional 525,642 shares in the last quarter. Northern Trust Corp grew its position in Grupo Financiero Santander Mexico S.A. B. de C.V. by 49.2% in the 2nd quarter. Northern Trust Corp now owns 1,057,865 shares of the bank’s stock worth $10,198,000 after purchasing an additional 348,948 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in Grupo Financiero Santander Mexico S.A. B. de C.V. by 44.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 581,928 shares of the bank’s stock worth $5,610,000 after purchasing an additional 179,093 shares in the last quarter. 30.95% of the stock is owned by institutional investors and hedge funds.

About Grupo Financiero Santander Mexico S.A. B. de C.V.

Grupo Financiero Santander Mexico SAB de CV, formerly Santander Mexico Financial Group SAB de CV or Grupo Financiero Santander SAB de CV, is a Mexico-based financial institution. The Company is primarily engaged in the provision of multiple banking services, securities brokerage, financial advice services, as well as other related investment activities.

Analyst Recommendations for Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX)

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