Short Interest in Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Drops By 82.8%

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 9,606 shares, a drop of 82.8% from the April 15th total of 55,875 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 79,148 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

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

Grupo Financiero Banorte SAB de CV Stock Down 4.0%

Shares of OTCMKTS:GBOOY traded down $2.22 on Thursday, reaching $53.79. The company had a trading volume of 74,680 shares, compared to its average volume of 55,834. Grupo Financiero Banorte SAB de CV has a 52-week low of $41.70 and a 52-week high of $62.89. The firm’s 50 day simple moving average is $55.17 and its 200-day simple moving average is $52.50. The firm has a market capitalization of $30.26 billion, a PE ratio of 9.49, a PEG ratio of 1.05 and a beta of 0.71. 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 (OTCMKTS:GBOOY) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.39 billion. As a group, analysts expect that Grupo Financiero Banorte SAB de CV will post 6.47 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.