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 report released on Tuesday.

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. “

A number of other brokerages also recently issued reports on BSMX. BidaskClub downgraded 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 cut Grupo Financiero Santander Mexico S.A. B. de C.V. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, September 19th. 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. 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, 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. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Grupo Financiero Santander Mexico S.A. B. de C.V. currently has an average rating of “Hold” and an average target price of $9.70.

Shares of Grupo Financiero Santander Mexico S.A. B. de C.V. (BSMX) traded down 1.67% during trading on Tuesday, hitting $9.41. 2,490,567 shares of the company traded hands. The company has a 50-day moving average of $10.19 and a 200-day moving average of $9.73. 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 stock has a market capitalization of $12.76 billion, a PE ratio of 12.30 and a beta of 1.38.

Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) last announced its quarterly earnings results on Friday, July 28th. The bank reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate 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%. Equities analysts expect that Grupo Financiero Santander Mexico S.A. B. de C.V. will post $0.73 EPS for the current year.

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Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its stake in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. by 4.6% during the second quarter. BNP Paribas Arbitrage SA now owns 249,125 shares of the bank’s stock worth $2,402,000 after purchasing an additional 10,873 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. during the second quarter worth approximately $23,484,000. Global X Management Co. LLC purchased a new stake in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. during the second quarter worth approximately $10,334,000. Flossbach Von Storch AG raised its stake in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. by 33.3% during the second quarter. Flossbach Von Storch AG now owns 200,000 shares of the bank’s stock worth $1,928,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Eqis Capital Management Inc. raised its stake in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. by 3.0% during the second quarter. Eqis Capital Management Inc. now owns 39,668 shares of the bank’s stock worth $382,000 after purchasing an additional 1,161 shares during the last quarter. Institutional investors and hedge funds own 30.87% 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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Analyst Recommendations for Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX)

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