Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

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 equities research analysts have also weighed in on the stock. Goldman Sachs Group, Inc. (The) raised shares of 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 report on Monday. BidaskClub lowered shares of 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. ValuEngine lowered shares of Grupo Financiero Santander Mexico S.A. B. de C.V. from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. TheStreet raised shares of Grupo Financiero Santander Mexico S.A. B. de C.V. from a “c” rating to a “b-” rating in a report on Tuesday, August 1st. Finally, Citigroup Inc. raised shares of 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Grupo Financiero Santander Mexico S.A. B. de C.V. presently has a consensus rating of “Hold” and an average target price of $10.03.

Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE BSMX) traded down 0.39% during mid-day trading on Thursday, hitting $10.26. 1,861,586 shares of the company’s stock were exchanged. The stock has a market capitalization of $13.91 billion, a P/E ratio of 13.59 and a beta of 1.39. The firm has a 50 day moving average of $10.45 and a 200 day moving average of $9.44. 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 earnings results on Friday, July 28th. The bank reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ 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 business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $963.79 million. Equities analysts forecast 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 large investors have recently modified their holdings of BSMX. Atria Investments LLC bought a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. during the 2nd quarter worth about $167,000. NN Investment Partners Holdings N.V. bought a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. during the 2nd quarter worth about $213,000. Virtu Financial LLC bought a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. during the 2nd quarter worth about $364,000. Eqis Capital Management Inc. grew its holdings in Grupo Financiero Santander Mexico S.A. B. de C.V. by 3.0% during the 2nd quarter. Eqis Capital Management Inc. now owns 39,668 shares of the bank’s stock worth $382,000 after acquiring an additional 1,161 shares during the last quarter. Finally, Aperio Group LLC grew its holdings in Grupo Financiero Santander Mexico S.A. B. de C.V. by 10.5% during the 2nd quarter. Aperio Group LLC now owns 58,074 shares of the bank’s stock worth $560,000 after acquiring an additional 5,518 shares during the last quarter. 31.25% of the stock is currently owned by hedge funds and other 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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