Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) Cut to Strong Sell at Zacks Investment Research

Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday, October 19th.

According to Zacks, “Grupo Financiero Santander Mexico SAB de CV is engaged in providing various banking services primarily in Mexico. It provides multiple banking services, securities brokerage, financial advice services, as well as other related investment activities. The company also offers pension and investment funds; cards and other structured products; and treasury management, merchant, trust, life insurance, online collection, tax payment, payroll, and cash management services. Grupo Financiero Santander Mexico SAB de CV is based in Mexico City, Mexico. “

Several other analysts have also weighed in on BSMX. Goldman Sachs Group, Inc. (The) raised Grupo Financiero Santander Mexico S.A. B. de C.V. from a “sell” rating to a “neutral” rating and set a $10.60 price objective for the company in a report on Monday, September 11th. BidaskClub lowered Grupo Financiero Santander Mexico S.A. B. de C.V. from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 31st. Credit Suisse Group lowered Grupo Financiero Santander Mexico S.A. B. de C.V. from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 19th. Citigroup Inc. raised Grupo Financiero Santander Mexico S.A. B. de C.V. from a “neutral” rating to a “buy” rating in a report on Thursday, July 20th. Finally, ValuEngine raised Grupo Financiero Santander Mexico S.A. B. de C.V. from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Grupo Financiero Santander Mexico S.A. B. de C.V. currently 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 Thursday, hitting $8.60. The stock had a trading volume of 4,860,595 shares. Grupo Financiero Santander Mexico S.A. B. de C.V. has a 12 month low of $6.73 and a 12 month high of $10.82. The company’s 50 day moving average price is $9.64 and its 200 day moving average price is $9.73. The stock has a market cap 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. (NYSE:BSMX) last issued its quarterly earnings data on Friday, July 28th. The bank reported $0.18 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.18. Grupo Financiero Santander Mexico S.A. B. de C.V. had a return on equity of 15.82% and a net margin of 17.80%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $963.79 million. 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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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its position in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. by 4.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 249,125 shares of the bank’s stock valued at $2,402,000 after acquiring an additional 10,873 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. during the 2nd quarter valued at $23,484,000. Banco BTG Pactual S.A. lifted its position in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. by 46.1% during the 2nd quarter. Banco BTG Pactual S.A. now owns 179,612 shares of the bank’s stock valued at $1,731,000 after acquiring an additional 56,705 shares during the last quarter. Global X Management Co. LLC acquired a new stake in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. during the 2nd quarter valued at $10,334,000. Finally, Flossbach Von Storch AG lifted its position in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. by 33.3% during the 2nd quarter. Flossbach Von Storch AG now owns 200,000 shares of the bank’s stock valued at $1,928,000 after acquiring an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 30.95% of the company’s stock.

Grupo Financiero Santander Mexico S.A. B. de C.V. Company Profile

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.

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