Grupo Financiero Santander Mexico S.A. B. de C.V. (BSMX) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) from a hold rating to a buy rating in a research note published on Friday. The firm currently has $11.00 target price on the bank’s stock.

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. “

BSMX has been the topic of a number of other reports. ValuEngine downgraded 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. BidaskClub downgraded Grupo Financiero Santander Mexico S.A. B. de C.V. from a strong-buy rating to a buy rating in a research report on Thursday, August 31st. Citigroup Inc. raised Grupo Financiero Santander Mexico S.A. B. de C.V. from a neutral rating to a buy rating in a research report on Thursday, July 20th. 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 target price on the stock in a research report on Monday, September 11th. Finally, TheStreet raised Grupo Financiero Santander Mexico S.A. B. de C.V. from a c rating to a b- rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $9.70.

Shares of Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE BSMX) traded down 0.58% during mid-day trading on Friday, reaching $10.20. The company’s stock had a trading volume of 1,042,981 shares. The stock has a market capitalization of $13.83 billion, a P/E ratio of 13.51 and a beta of 1.39. 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 has a 50 day moving average price of $10.44 and a 200 day moving average price of $9.47.

Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) last released its earnings results on Friday, July 28th. The bank reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. Grupo Financiero Santander Mexico S.A. B. de C.V. had a return on equity of 15.11% and a net margin of 15.97%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $963.79 million. On average, equities research analysts anticipate that Grupo Financiero Santander Mexico S.A. B. de C.V. will post $0.74 earnings per share for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. acquired a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. during the second quarter worth about $23,484,000. Global X Management Co. LLC acquired a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. during the second quarter valued at approximately $10,334,000. Northern Trust Corp boosted its holdings in Grupo Financiero Santander Mexico S.A. B. de C.V. by 49.2% during the second quarter. Northern Trust Corp now owns 1,057,865 shares of the bank’s stock valued at $10,198,000 after purchasing an additional 348,948 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Grupo Financiero Santander Mexico S.A. B. de C.V. by 247.0% during the second quarter. JPMorgan Chase & Co. now owns 738,423 shares of the bank’s stock valued at $7,117,000 after purchasing an additional 525,642 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Grupo Financiero Santander Mexico S.A. B. de C.V. by 44.5% during the second quarter. State of New Jersey Common Pension Fund D now owns 581,928 shares of the bank’s stock valued at $5,610,000 after purchasing an additional 179,093 shares in the last quarter. 31.25% of the stock is currently owned by institutional investors and hedge funds.

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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