Short Interest in Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Increases By 1,090.6%

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) was the recipient of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 63,759 shares, an increase of 1,090.6% from the May 14th total of 5,355 shares. Based on an average daily trading volume, of 150,513 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.0% of the shares of the company are short sold.

Grupo Financiero Banorte SAB de CV Stock Performance

Shares of GBOOY opened at $50.40 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $28.36 billion, a P/E ratio of 8.89, a P/E/G ratio of 0.94 and a beta of 0.70. The company’s fifty day moving average is $55.08 and its two-hundred day moving average is $53.28. Grupo Financiero Banorte SAB de CV has a 1 year low of $41.70 and a 1 year high of $62.89.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Grupo Financiero Banorte SAB de CV had a return on equity of 22.08% and a net margin of 14.23%. On average, sell-side analysts predict that Grupo Financiero Banorte SAB de CV will post 6.47 earnings per share for the current year.

Analysts Set New Price Targets

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

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.