Short Interest in Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Expands By 384.1%

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 55,875 shares, an increase of 384.1% from the March 31st total of 11,542 shares. Based on an average daily volume of 114,336 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.0% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded Grupo Financiero Banorte SAB de CV from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Grupo Financiero Banorte SAB de CV Stock Performance

Shares of Grupo Financiero Banorte SAB de CV stock opened at $55.88 on Monday. The firm has a market cap of $31.44 billion, a P/E ratio of 9.85, a P/E/G ratio of 1.06 and a beta of 0.79. 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 $40.00 and a 12 month high of $62.89. The stock’s fifty day moving average price is $55.73 and its 200-day moving average price is $51.86.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.56 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.07). Grupo Financiero Banorte SAB de CV had a net margin of 14.23% and a return on equity of 22.95%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.39 billion. On average, equities research analysts expect that Grupo Financiero Banorte SAB de CV will post 6.51 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.