Short Interest in Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Rises By 1,090.6%

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY – Get Free Report) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 63,759 shares, a growth of 1,090.6% from the May 14th total of 5,355 shares. Based on an average daily volume of 150,513 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded shares of Grupo Financiero Banorte SAB de CV from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

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Grupo Financiero Banorte SAB de CV Stock Up 0.1%

Shares of OTCMKTS GBOOY traded up $0.03 during mid-day trading on Tuesday, reaching $50.40. The company had a trading volume of 64,352 shares, compared to its average volume of 69,068. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. The firm has a 50 day simple moving average of $55.08 and a two-hundred day simple moving average of $53.28. The stock has a market cap of $28.36 billion, a P/E ratio of 8.89, a PEG ratio of 0.94 and a beta of 0.70. Grupo Financiero Banorte SAB de CV has a 52-week low of $41.70 and a 52-week high of $62.89.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY – Get Free Report) last posted its earnings results on Tuesday, April 21st. The company reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Grupo Financiero Banorte SAB de CV had a net margin of 14.23% and a return on equity of 22.08%. Sell-side analysts predict that Grupo Financiero Banorte SAB de CV will post 6.47 earnings per share for the current year.

About Grupo Financiero Banorte SAB de CV

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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.

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