Grupo Financiero Banorte, S.A.B. de C.V. (OTCMKTS:GBOOF) Sees Significant Decline in Short Interest

Grupo Financiero Banorte, S.A.B. de C.V. (OTCMKTS:GBOOF) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 3,514,101 shares, a drop of 47.5% from the May 14th total of 6,699,706 shares. Based on an average daily volume of 44,487 shares, the days-to-cover ratio is presently 79.0 days.

Grupo Financiero Banorte Trading Up 0.6%

Shares of OTCMKTS:GBOOF opened at $10.72 on Tuesday. The stock has a 50-day simple moving average of $11.06 and a 200-day simple moving average of $10.77. Grupo Financiero Banorte has a 1 year low of $8.27 and a 1 year high of $13.25.

Grupo Financiero Banorte Company Profile

Grupo Financiero Banorte SAB de CV, commonly known as Banorte, is one of Mexico’s largest diversified financial groups. Founded in 1899 as Banco Mercantil de Monterrey, the company has expanded through both organic growth and strategic acquisitions to build a broad national presence. Headquartered in Monterrey, Nuevo León, Banorte operates under a universal banking model, integrating traditional banking services with a range of complementary financial offerings.

Banorte’s core activities encompass retail and commercial banking, where it provides deposit accounts, consumer and mortgage lending, and financing solutions for small and medium-sized enterprises.