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

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) saw a large decline in short interest in October. As of October 30th, there was short interest totaling 765 shares, a decline of 68.0% from the October 15th total of 2,390 shares. Based on an average daily volume of 57,022 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered shares of Grupo Financiero Banorte SAB de CV from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Grupo Financiero Banorte SAB de CV presently has an average rating of “Sell”.

Grupo Financiero Banorte SAB de CV Stock Performance

Shares of OTCMKTS:GBOOY opened at $57.14 on Friday. The business has a fifty day moving average of $55.61 and a 200-day moving average of $55.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.77 and a current ratio of 0.77. Grupo Financiero Banorte SAB de CV has a twelve month low of $45.00 and a twelve month high of $63.81. The firm has a market cap of $32.15 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 1.29 and a beta of 0.73.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.09. Grupo Financiero Banorte SAB de CV had a net margin of 15.88% and a return on equity of 23.48%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.22 billion. On average, equities research analysts predict that Grupo Financiero Banorte SAB de CV will post 6.01 EPS for the current fiscal year.

About Grupo Financiero Banorte SAB de CV

Grupo Financiero Banorte is a Mexico-based financial services group whose principal banking subsidiary is Banco Mercantil del Norte, commonly known as Banorte. Its roots trace to Banco Mercantil de Monterrey, founded in 1899, and the group has grown through acquisitions and expansion in Mexico. Banorte offers personal and commercial banking services, including deposit accounts, loans, credit cards, payments and digital banking. Its other businesses provide services such as retirement savings and pension management, insurance, brokerage, investment and asset management, and leasing and factoring.