Zacks Investment Research Downgrades Santander Mexico Fincl Gp SAB deCV (BSMX) to Sell

Santander Mexico Fincl Gp SAB deCV (NYSE:BSMX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “

A number of other analysts have also recently issued reports on BSMX. BidaskClub cut Santander Mexico Fincl Gp SAB deCV from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th. JPMorgan Chase & Co. cut Santander Mexico Fincl Gp SAB deCV from an “overweight” rating to a “hold” rating and dropped their price objective for the stock from $11.00 to $10.00 in a report on Wednesday, November 1st. TheStreet cut Santander Mexico Fincl Gp SAB deCV from a “b-” rating to a “c+” rating in a report on Thursday, November 9th. Scotia Howard Weill raised Santander Mexico Fincl Gp SAB deCV from an “underperform” rating to a “sector perform” rating in a report on Monday, November 27th. Finally, ValuEngine cut Santander Mexico Fincl Gp SAB deCV from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $9.62.

Shares of Santander Mexico Fincl Gp SAB deCV (NYSE:BSMX) traded up $0.08 on Thursday, reaching $7.27. The company had a trading volume of 2,041,378 shares, compared to its average volume of 1,987,808. The stock has a market cap of $4,830.31, a PE ratio of 10.54, a price-to-earnings-growth ratio of 7.26 and a beta of 1.46. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.01 and a quick ratio of 1.01. Santander Mexico Fincl Gp SAB deCV has a twelve month low of $6.99 and a twelve month high of $10.82.

Santander Mexico Fincl Gp SAB deCV (NYSE:BSMX) last issued its quarterly earnings data on Wednesday, January 31st. The bank reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Santander Mexico Fincl Gp SAB deCV had a return on equity of 15.15% and a net margin of 16.88%. research analysts predict that Santander Mexico Fincl Gp SAB deCV will post 0.71 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. increased its stake in Santander Mexico Fincl Gp SAB deCV by 5.4% in the 3rd quarter. Macquarie Group Ltd. now owns 6,893,231 shares of the bank’s stock worth $69,552,000 after acquiring an additional 352,080 shares during the last quarter. Schroder Investment Management Group bought a new position in Santander Mexico Fincl Gp SAB deCV in the 4th quarter worth about $30,272,000. Global X MANAGEMENT CO LLC increased its stake in Santander Mexico Fincl Gp SAB deCV by 5.4% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 1,129,516 shares of the bank’s stock worth $11,397,000 after acquiring an additional 57,510 shares during the last quarter. Northern Trust Corp increased its stake in Santander Mexico Fincl Gp SAB deCV 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 acquiring an additional 348,948 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Santander Mexico Fincl Gp SAB deCV by 93.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 588,852 shares of the bank’s stock worth $5,941,000 after acquiring an additional 284,200 shares during the last quarter. Institutional investors and hedge funds own 27.40% of the company’s stock.

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About Santander Mexico Fincl Gp SAB deCV

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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