Banco Santander Mexico Sa Instcn De (NYSE:BSMX) Lowered to “Hold” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Banco Santander Mexico Sa Instcn De (NYSE:BSMX) from a buy rating to a hold rating in a research note released on Monday, Zacks.com reports.

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. “

Other analysts have also recently issued research reports about the company. ValuEngine cut Banco Santander Mexico Sa Instcn De from a sell rating to a strong sell rating in a research report on Thursday, August 1st. Bank of America reaffirmed a neutral rating on shares of Banco Santander Mexico Sa Instcn De in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Banco Santander Mexico Sa Instcn De has an average rating of Hold and an average target price of $7.58.

Shares of BSMX opened at $6.43 on Monday. The stock has a 50-day moving average of $6.54 and a two-hundred day moving average of $7.27. Banco Santander Mexico Sa Instcn De has a one year low of $5.68 and a one year high of $8.74. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $8.82 billion, a P/E ratio of 8.57, a P/E/G ratio of 1.93 and a beta of 1.37.

Banco Santander Mexico Sa Instcn De (NYSE:BSMX) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. Banco Santander Mexico Sa Instcn De had a return on equity of 15.56% and a net margin of 14.86%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Analysts predict that Banco Santander Mexico Sa Instcn De will post 0.8 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Alpine Associates Management Inc. acquired a new position in shares of Banco Santander Mexico Sa Instcn De in the 2nd quarter valued at about $33,197,000. OMERS ADMINISTRATION Corp lifted its holdings in shares of Banco Santander Mexico Sa Instcn De by 359.9% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 2,321,900 shares of the bank’s stock valued at $18,004,000 after buying an additional 1,817,038 shares during the period. SPX Equities Gestao de Recursos Ltda lifted its holdings in shares of Banco Santander Mexico Sa Instcn De by 339.9% in the 2nd quarter. SPX Equities Gestao de Recursos Ltda now owns 2,192,774 shares of the bank’s stock valued at $16,775,000 after buying an additional 1,694,274 shares during the period. Prudential PLC lifted its holdings in shares of Banco Santander Mexico Sa Instcn De by 12.5% in the 2nd quarter. Prudential PLC now owns 1,967,664 shares of the bank’s stock valued at $15,741,000 after buying an additional 218,346 shares during the period. Finally, Todd Asset Management LLC lifted its holdings in shares of Banco Santander Mexico Sa Instcn De by 2.0% in the 1st quarter. Todd Asset Management LLC now owns 1,870,464 shares of the bank’s stock valued at $12,663,000 after buying an additional 36,325 shares during the period. 10.27% of the stock is owned by institutional investors and hedge funds.

Banco Santander Mexico Sa Instcn De Company Profile

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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