Zacks Investment Research Upgrades Banco Santander Mexico Sa Instcn De (NYSE:BSMX) to “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 buy rating in a research note issued to investors on Tuesday, Zacks.com reports. They currently have $7.25 target price 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. “

BSMX has been the topic of several other research reports. ValuEngine cut Banco Santander Mexico Sa Instcn De from a sell rating to a strong sell rating in a report on Thursday, October 31st. Bank of America reissued a neutral rating on shares of Banco Santander Mexico Sa Instcn De in a report on Thursday, September 12th. Finally, Credit Suisse Group raised Banco Santander Mexico Sa Instcn De from a neutral rating to an outperform rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Banco Santander Mexico Sa Instcn De presently has an average rating of Hold and a consensus target price of $7.33.

NYSE:BSMX traded up $0.16 during midday trading on Tuesday, hitting $6.47. 473,995 shares of the stock were exchanged, compared to its average volume of 546,158. 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 market capitalization of $8.55 billion, a price-to-earnings ratio of 8.63, a P/E/G ratio of 1.86 and a beta of 1.36. The business has a 50-day moving average price of $6.68 and a two-hundred day moving average price of $7.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.84.

Several hedge funds and other institutional investors have recently bought and sold shares of BSMX. Simplex Trading LLC bought a new position in shares of Banco Santander Mexico Sa Instcn De in the third quarter valued at $27,000. Quantamental Technologies LLC bought a new position in shares of Banco Santander Mexico Sa Instcn De in the second quarter valued at $65,000. NumerixS Investment Technologies Inc bought a new position in shares of Banco Santander Mexico Sa Instcn De in the second quarter valued at $77,000. Gamco Investors INC. ET AL bought a new position in shares of Banco Santander Mexico Sa Instcn De in the second quarter valued at $79,000. Finally, First Trust Advisors LP bought a new position in shares of Banco Santander Mexico Sa Instcn De in the second quarter valued at $122,000. 10.15% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Banco Santander Mexico Sa Instcn De (NYSE:BSMX)

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