Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Sees Large Volume Increase – Still a Buy?

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) saw an uptick in trading volume on Friday . 122,311 shares were traded during mid-day trading, an increase of 105% from the previous session’s volume of 59,715 shares.The stock last traded at $52.60 and had previously closed at $53.31.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Grupo Financiero Banorte SAB de CV from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Grupo Financiero Banorte SAB de CV Stock Performance

The firm’s 50 day moving average price is $55.62 and its two-hundred day moving average price is $50.58. The firm has a market cap of $28.84 billion, a PE ratio of 9.44, a PEG ratio of 0.97 and a beta of 0.81. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.23 and a current ratio of 0.23.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last released its quarterly earnings data on Tuesday, January 27th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. The firm had revenue of $2.30 billion for the quarter. Grupo Financiero Banorte SAB de CV had a return on equity of 22.20% and a net margin of 13.50%. On average, research analysts forecast that Grupo Financiero Banorte SAB de CV will post 4.84 earnings per share for the current year.

Grupo Financiero Banorte SAB de CV Company Profile

Grupo Financiero Banorte SAB de CV, commonly known as Banorte, is a major Mexican financial services holding company headquartered in Monterrey, Mexico. The group operates a universal banking franchise that serves retail, small and medium-sized enterprises, and large corporate clients across Mexico. Banorte provides a broad suite of banking services through an extensive branch network and digital channels and maintains an international investor presence, including ADRs that trade on the U.S. OTC market under the symbol GBOOY.

Banorte’s core businesses include retail and commercial banking—offering deposit accounts, payment and cash management services, consumer and mortgage loans, credit and debit cards, and lending to corporate clients.