Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Grupo Financiero Santander Mexico SAB de CV is engaged in providing various banking services primarily in Mexico. It provides multiple banking services, securities brokerage, financial advice services, as well as other related investment activities. The company also offers pension and investment funds; cards and other structured products; and treasury management, merchant, trust, life insurance, online collection, tax payment, payroll, and cash management services. Grupo Financiero Santander Mexico SAB de CV is based in Mexico City, Mexico. “

A number of other research analysts have also recently issued reports on the company. Credit Suisse Group cut Grupo Financiero Santander Mexico S.A. B. de C.V. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, September 19th. BidaskClub cut Grupo Financiero Santander Mexico S.A. B. de C.V. from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Goldman Sachs Group Inc upgraded Grupo Financiero Santander Mexico S.A. B. de C.V. from a “sell” rating to a “neutral” rating and set a $10.60 price objective for the company in a research note on Monday, September 11th. ValuEngine cut Grupo Financiero Santander Mexico S.A. B. de C.V. from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, TheStreet upgraded Grupo Financiero Santander Mexico S.A. B. de C.V. from a “c” rating to a “b-” rating in a research note on Tuesday, August 1st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $9.70.

Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) last announced its quarterly earnings data on Friday, July 28th. The bank reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $963.79 million. Grupo Financiero Santander Mexico S.A. B. de C.V. had a return on equity of 15.11% and a net margin of 15.97%.

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Several hedge funds have recently bought and sold shares of BSMX. Huntington National Bank raised its stake in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. by 4.1% in the second quarter. Huntington National Bank now owns 11,891 shares of the bank’s stock worth $115,000 after purchasing an additional 463 shares during the last quarter. Atria Investments LLC purchased a new position in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. in the second quarter worth $167,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. in the second quarter worth $213,000. Paragon Capital Management Ltd raised its stake in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. by 42.8% in the second quarter. Paragon Capital Management Ltd now owns 33,429 shares of the bank’s stock worth $322,000 after purchasing an additional 10,017 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Grupo Financiero Santander Mexico S.A. B. de C.V. in the second quarter worth $364,000. Hedge funds and other institutional investors own 30.87% of the company’s stock.

Grupo Financiero Santander Mexico S.A. B. de C.V. Company Profile

Grupo Financiero Santander Mexico SAB de CV, formerly Santander Mexico Financial Group SAB de CV or Grupo Financiero Santander SAB de CV, is a Mexico-based financial institution. The Company is primarily engaged in the provision of multiple banking services, securities brokerage, financial advice services, as well as other related investment activities.

Analyst Recommendations for Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX)

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