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 on Friday. The firm currently has a $11.00 price target on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 7.21% 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. “

Other equities analysts have also issued research reports about the company. BidaskClub upgraded Grupo Financiero Santander Mexico S.A. B. de C.V. from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Goldman Sachs Group, Inc. (The) upgraded 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 for the company in a research note on Monday. TheStreet upgraded 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. ValuEngine upgraded Grupo Financiero Santander Mexico S.A. B. de C.V. from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Citigroup Inc. upgraded Grupo Financiero Santander Mexico S.A. B. de C.V. from a “neutral” rating to a “buy” rating in a research note on Thursday, July 20th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $9.70.

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 had a trading volume of 1,041,381 shares. 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. The firm has a market capitalization of $13.83 billion, a PE ratio of 13.51 and a beta of 1.39. The stock’s 50-day moving average price is $10.44 and its 200 day moving average price is $9.45.

Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) last issued its earnings results on Friday, July 28th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.18. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $963.79 million. 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%. On average, equities research analysts predict that Grupo Financiero Santander Mexico S.A. B. de C.V. will post $0.74 EPS for the current year.

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Several institutional investors have recently made changes to their positions in the stock. Banco BTG Pactual S.A. increased its stake in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. by 46.1% in the 2nd quarter. Banco BTG Pactual S.A. now owns 179,612 shares of the bank’s stock valued at $1,731,000 after purchasing an additional 56,705 shares in the last quarter. State Street Corp boosted its holdings in Grupo Financiero Santander Mexico S.A. B. de C.V. by 2.9% in the 2nd quarter. State Street Corp now owns 45,899 shares of the bank’s stock worth $442,000 after buying an additional 1,300 shares during the last quarter. OxFORD Asset Management LLP acquired a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. in the 2nd quarter worth about $434,000. Northern Trust Corp boosted its holdings 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 buying an additional 348,948 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. in the 2nd quarter worth about $735,000. Hedge funds and other institutional investors own 31.25% of the company’s stock.

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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