StockNews.com Upgrades Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México (NYSE:BSMX) to Buy

Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México (NYSE:BSMXGet Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Separately, Scotiabank cut Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México from an “outperform” rating to an “underperform” rating in a report on Monday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.50.

Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México Price Performance

NYSE BSMX traded up $0.21 during midday trading on Thursday, hitting $6.21. The company had a trading volume of 40,855 shares, compared to its average volume of 109,137. The company has a market capitalization of $8.43 billion, a PE ratio of 6.75, a P/E/G ratio of 0.44 and a beta of 1.15. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average price of $5.56 and a 200-day moving average price of $5.37. Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México has a twelve month low of $4.52 and a twelve month high of $6.29.

Hedge Funds Weigh In On Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México

A number of institutional investors have recently modified their holdings of BSMX. Philadelphia Financial Management of San Francisco LLC raised its holdings in shares of Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México by 147.4% during the 2nd quarter. Philadelphia Financial Management of San Francisco LLC now owns 498,487 shares of the bank’s stock worth $2,515,000 after buying an additional 296,963 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México by 20.2% during the 1st quarter. JPMorgan Chase & Co. now owns 796,300 shares of the bank’s stock worth $4,173,000 after buying an additional 133,623 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México during the 2nd quarter worth $92,000. Finally, Virtu Financial LLC acquired a new position in shares of Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México during the 1st quarter worth $78,000. Institutional investors and hedge funds own 10.91% of the company’s stock.

About Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México

(Get Rating)

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 Corporate and Investment 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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