Banco Santander Mexico Sa Instcn De (BSMX) Upgraded by Zacks Investment Research to “Strong-Buy”

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Zacks Investment Research upgraded shares of Banco Santander Mexico Sa Instcn De (NYSE:BSMX) from a hold rating to a strong-buy rating in a report released on Thursday morning. They currently have $9.00 price objective on the bank’s stock.

According to Zacks, “Banco Santander, S.A. Institución de Banca Múltiple provides banking services to commercial and private customers. The company’s products and services consist of securities brokerage, financial advice services, as well as other related investment activities and operations aimed at individuals and small and medium enterprises. Banco Santander, S.A. Institución de Banca Múltiple, formerly known as Grupo Financiero Santander, is based in Mexico. “

Separately, Credit Suisse Group raised Banco Santander Mexico Sa Instcn De from a neutral rating to an outperform rating in a research report on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $9.00.

Shares of NYSE:BSMX traded up $0.05 during midday trading on Thursday, reaching $7.77. The company’s stock had a trading volume of 65,318 shares, compared to its average volume of 2,195,939. The company has a market cap of $5.27 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.99 and a beta of 1.47. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.94. Banco Santander Mexico Sa Instcn De has a 1 year low of $6.28 and a 1 year high of $9.11.

Banco Santander Mexico Sa Instcn De (NYSE:BSMX) last announced its quarterly earnings data on Thursday, July 26th. The bank reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.02. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. Banco Santander Mexico Sa Instcn De had a return on equity of 15.35% and a net margin of 16.49%. Sell-side analysts expect that Banco Santander Mexico Sa Instcn De will post 0.74 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. We Are One Seven LLC acquired a new position in Banco Santander Mexico Sa Instcn De in the third quarter valued at $142,000. Banco de Sabadell S.A acquired a new position in Banco Santander Mexico Sa Instcn De in the second quarter valued at $206,000. Fulton Bank N.A. boosted its holdings in Banco Santander Mexico Sa Instcn De by 40.0% in the second quarter. Fulton Bank N.A. now owns 56,549 shares of the bank’s stock valued at $366,000 after acquiring an additional 16,158 shares during the last quarter. A.R.T. Advisors LLC acquired a new position in Banco Santander Mexico Sa Instcn De in the first quarter valued at $808,000. Finally, JPMorgan Chase & Co. boosted its holdings in Banco Santander Mexico Sa Instcn De by 31.1% in the first quarter. JPMorgan Chase & Co. now owns 127,592 shares of the bank’s stock valued at $915,000 after acquiring an additional 30,275 shares during the last quarter. 27.94% of the stock is owned by institutional investors and hedge funds.

About Banco Santander Mexico Sa Instcn De

Banco Santander (México), SA, Institución de Banca Múltiple, Grupo Financiero Santander México provides various banking products and services in Mexico. The company operates through Retail Banking and Global Corporate Banking segments. It offers various deposit products, such as current accounts, savings accounts, and time deposits, as well as certificates of interbank deposits; and payroll loans, personal loans, credit cards, mortgages, and insurance brokerage services.

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