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

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Zacks Investment Research cut shares of Banco Santander Mexico Sa Instcn De (NYSE:BSMX) from a buy rating to a hold rating in a research report sent to investors on Thursday, 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. “

A number of other analysts have also commented on BSMX. ValuEngine upgraded Banco Santander Mexico Sa Instcn De from a strong sell rating to a sell rating in a research report on Wednesday, October 2nd. Credit Suisse Group upgraded Banco Santander Mexico Sa Instcn De from a neutral rating to an outperform rating in a research report on Monday, October 7th. Finally, Bank of America reiterated 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, five have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $7.58.

Shares of NYSE:BSMX traded up $0.05 during midday trading on Thursday, reaching $6.88. The company’s stock had a trading volume of 759,090 shares, compared to its average volume of 1,995,374. The business’s fifty day simple moving average is $6.47 and its 200-day simple moving average is $7.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $9.27 billion, a P/E ratio of 9.19, a P/E/G ratio of 2.01 and a beta of 1.35. Banco Santander Mexico Sa Instcn De has a fifty-two week low of $5.68 and a fifty-two week high of $8.74.

Banco Santander Mexico Sa Instcn De (NYSE:BSMX) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.05 billion. Banco Santander Mexico Sa Instcn De had a return on equity of 15.56% and a net margin of 14.86%. On average, analysts forecast that Banco Santander Mexico Sa Instcn De will post 0.81 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Banco Santander Mexico Sa Instcn De in the second quarter worth about $290,000. Natixis bought a new position in Banco Santander Mexico Sa Instcn De during the second quarter worth about $1,895,000. SG Americas Securities LLC bought a new position in Banco Santander Mexico Sa Instcn De during the second quarter worth about $3,122,000. Schroder Investment Management Group boosted its holdings in Banco Santander Mexico Sa Instcn De by 128.3% during the second quarter. Schroder Investment Management Group now owns 1,484,200 shares of the bank’s stock worth $11,355,000 after buying an additional 834,100 shares during the last quarter. Finally, Provida Pension Fund Administrator bought a new position in Banco Santander Mexico Sa Instcn De during the second quarter worth about $170,000. Hedge funds and other institutional investors own 10.36% of the company’s stock.

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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