Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $11.00 target price on the bank’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 6.69% from the company’s previous close.

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. “

Separately, J P Morgan Chase & Co raised Grupo Financiero Santander Mexico S.A. B. de C.V. from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $9.50 to $7.50 in a research report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Grupo Financiero Santander Mexico S.A. B. de C.V. has a consensus rating of “Hold” and an average price target of $8.87.

Shares of Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE BSMX) traded up 1.78% during mid-day trading on Tuesday, hitting $10.31. The stock had a trading volume of 748,508 shares. The stock has a 50 day moving average price of $9.40 and a 200-day moving average price of $8.32. Grupo Financiero Santander Mexico S.A. B. de C.V. has a 52-week low of $6.73 and a 52-week high of $10.37. The company has a market cap of $13.98 billion, a PE ratio of 14.42 and a beta of 1.38.

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A number of institutional investors have recently added to or reduced their stakes in BSMX. Quantitative Systematic Strategies LLC acquired a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. during the first quarter valued at about $312,000. Flossbach Von Storch AG boosted its stake in Grupo Financiero Santander Mexico S.A. B. de C.V. by 30.4% in the first quarter. Flossbach Von Storch AG now owns 150,000 shares of the bank’s stock valued at $1,355,000 after buying an additional 35,000 shares during the period. Atria Investments LLC acquired a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. during the second quarter valued at about $167,000. NN Investment Partners Holdings N.V. acquired a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. during the second quarter valued at about $213,000. Finally, Virtu Financial LLC acquired a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. during the second quarter valued at about $364,000. 32.66% of the stock is owned by institutional investors.

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.

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