Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Sees Significant Decline in Short Interest

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) was the target of a significant drop in short interest in March. As of March 13th, there was short interest totaling 37,035 shares, a drop of 27.9% from the February 26th total of 51,352 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 86,899 shares, the short-interest ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

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

Grupo Financiero Banorte SAB de CV Stock Performance

Shares of OTCMKTS:GBOOY traded down $0.90 on Friday, reaching $52.41. 57,700 shares of the company’s stock were exchanged, compared to its average volume of 48,722. The business’s 50-day moving average is $55.97 and its two-hundred day moving average is $50.80. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.41. Grupo Financiero Banorte SAB de CV has a fifty-two week low of $32.00 and a fifty-two week high of $62.89. The firm has a market capitalization of $29.49 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 1.01 and a beta of 0.81.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.35 by $0.19. Grupo Financiero Banorte SAB de CV had a net margin of 13.50% and a return on equity of 22.20%. The business had revenue of $2.30 billion during the quarter. As a group, equities research analysts forecast that Grupo Financiero Banorte SAB de CV will post 4.84 EPS for the current year.

About Grupo Financiero Banorte SAB de CV

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.