Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Sees Significant Drop in Short Interest

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) saw a significant decline in short interest in October. As of October 30th, there was short interest totaling 765 shares, a decline of 68.0% from the October 15th total of 2,390 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average trading volume of 57,022 shares, the short-interest ratio is presently 0.0 days.

Grupo Financiero Banorte SAB de CV Price Performance

Shares of OTCMKTS:GBOOY opened at $57.14 on Friday. The company has a market cap of $32.15 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 1.29 and a beta of 0.73. The business has a 50 day moving average price of $55.61 and a 200 day moving average price of $55.40. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.64. Grupo Financiero Banorte SAB de CV has a twelve month low of $45.00 and a twelve month high of $63.81.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.52 by $0.09. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.22 billion. Grupo Financiero Banorte SAB de CV had a return on equity of 23.48% and a net margin of 15.88%. Research analysts predict that Grupo Financiero Banorte SAB de CV will post 6.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered shares of Grupo Financiero Banorte SAB de CV from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

About Grupo Financiero Banorte SAB de CV

Grupo Financiero Banorte is a Mexico-based financial services group whose principal banking subsidiary is Banco Mercantil del Norte, commonly known as Banorte. Its roots trace to Banco Mercantil de Monterrey, founded in 1899, and the group has grown through acquisitions and expansion in Mexico. Banorte offers personal and commercial banking services, including deposit accounts, loans, credit cards, payments and digital banking. Its other businesses provide services such as retirement savings and pension management, insurance, brokerage, investment and asset management, and leasing and factoring.