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

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) was the recipient of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 37,035 shares, a decrease of 27.9% from the February 26th total of 51,352 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 86,899 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

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

Grupo Financiero Banorte SAB de CV Stock Performance

GBOOY stock traded down $0.90 on Friday, hitting $52.41. The company had a trading volume of 57,700 shares, compared to its average volume of 48,722. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.41. Grupo Financiero Banorte SAB de CV has a 12-month low of $32.00 and a 12-month high of $62.89. The stock has a market cap of $29.49 billion, a price-to-earnings ratio of 9.65, a P/E/G ratio of 0.99 and a beta of 0.81. The stock’s 50-day simple moving average is $55.97 and its 200 day simple moving average is $50.82.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its earnings results on Tuesday, January 27th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. The business 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%. As a group, equities research analysts expect that Grupo Financiero Banorte SAB de CV will post 4.84 earnings per share for the current fiscal year.

About Grupo Financiero Banorte SAB de CV

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.