Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Up – Here’s Why

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) shares gapped up prior to trading on Monday . The stock had previously closed at $58.50, but opened at $60.53. Grupo Financiero Banorte SAB de CV shares last traded at $58.58, with a volume of 3,565 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research raised Grupo Financiero Banorte SAB de CV from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Grupo Financiero Banorte SAB de CV presently has an average rating of “Strong Buy”.

Grupo Financiero Banorte SAB de CV Stock Down 0.9%

The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $32.60 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 1.11 and a beta of 0.81. The company’s fifty day simple moving average is $52.59 and its 200 day simple moving average is $49.23.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last released its earnings results on Tuesday, January 27th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. The firm had revenue of $2.30 billion during the quarter. Grupo Financiero Banorte SAB de CV had a net margin of 13.50% and a return on equity of 22.20%. Analysts anticipate that Grupo Financiero Banorte SAB de CV will post 4.84 earnings per share for the current fiscal year.

Grupo Financiero Banorte SAB de CV Company Profile

Grupo Financiero Banorte SAB de CV, commonly known as Banorte, is a major Mexican financial services holding company headquartered in Monterrey, Mexico. The group operates a universal banking franchise that serves retail, small and medium-sized enterprises, and large corporate clients across Mexico. Banorte provides a broad suite of banking services through an extensive branch network and digital channels and maintains an international investor presence, including ADRs that trade on the U.S. OTC market under the symbol GBOOY.

Banorte’s core businesses include retail and commercial banking—offering deposit accounts, payment and cash management services, consumer and mortgage loans, credit and debit cards, and lending to corporate clients.