Banco Santander Mexico Sa Instcn De (NYSE:BSMX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $7.00 target price on the bank’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.72% from the company’s current price.

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. “

NYSE BSMX traded down $0.04 during trading hours on Tuesday, hitting $6.21. The company had a trading volume of 1,961,600 shares, compared to its average volume of 1,482,643. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.21 and a quick ratio of 1.21. Banco Santander Mexico Sa Instcn De has a 1-year low of $6.05 and a 1-year high of $8.81. The company has a market capitalization of $4.33 billion, a PE ratio of 9.00, a P/E/G ratio of 1.64 and a beta of 1.60.

Several institutional investors and hedge funds have recently made changes to their positions in BSMX. FDx Advisors Inc. purchased a new position in Banco Santander Mexico Sa Instcn De during the third quarter worth about $101,000. Stevens Capital Management LP purchased a new position in Banco Santander Mexico Sa Instcn De during the third quarter worth about $121,000. We Are One Seven LLC purchased a new position in Banco Santander Mexico Sa Instcn De during the third quarter worth about $142,000. Banco de Sabadell S.A purchased a new position in Banco Santander Mexico Sa Instcn De during the second quarter worth about $206,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Banco Santander Mexico Sa Instcn De during the third quarter worth about $506,000. Institutional investors and hedge funds own 28.08% of the company’s stock.

About Banco Santander Mexico Sa Instcn De

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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