Zacks Investment Research upgraded shares of Grupo Financiero Santander Mexico SAB de CV (NYSE:BSMX) from a sell rating to a hold rating in a research note published on Monday.

According to Zacks, “Grupo Financiero Santander Mexico SAB de CV is engaged in providing various banking services primarily in Mexico. It provides multiple banking services, securities brokerage, financial advice services, as well as other related investment activities. The company also offers pension and investment funds; cards and other structured products; and treasury management, merchant, trust, life insurance, online collection, tax payment, payroll, and cash management services. Grupo Financiero Santander Mexico SAB de CV is based in Mexico City, Mexico. “

Other analysts have also recently issued research reports about the stock. Barclays PLC raised shares of Grupo Financiero Santander Mexico SAB de CV from an underperform rating to an equal weight rating in a report on Wednesday, June 22nd. JPMorgan Chase & Co. cut shares of Grupo Financiero Santander Mexico SAB de CV from an overweight rating to a neutral rating and lifted their target price for the company from $9.50 to $10.00 in a report on Thursday, August 4th. Goldman Sachs Group Inc. cut shares of Grupo Financiero Santander Mexico SAB de CV from a neutral rating to a sell rating and set a $8.10 target price on the stock. in a report on Friday, September 23rd. Finally, Deutsche Bank AG cut shares of Grupo Financiero Santander Mexico SAB de CV from a hold rating to a sell rating and lifted their target price for the company from $8.00 to $9.00 in a report on Tuesday, July 5th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $9.03.

Grupo Financiero Santander Mexico SAB de CV (NYSE:BSMX) traded up 1.960% during trading on Monday, reaching $9.105. 123,769 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $9.02 and a 200 day moving average price of $9.07. Grupo Financiero Santander Mexico SAB de CV has a 52 week low of $6.76 and a 52 week high of $10.13. The firm has a market capitalization of $12.35 billion, a price-to-earnings ratio of 16.115 and a beta of 1.63.

Several large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Grupo Financiero Santander Mexico SAB de CV by 0.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,476 shares of the company’s stock valued at $159,000 after buying an additional 100 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Grupo Financiero Santander Mexico SAB de CV by 2.1% in the second quarter. Wetherby Asset Management Inc. now owns 14,637 shares of the company’s stock valued at $133,000 after buying an additional 297 shares during the last quarter. Rockefeller Financial Services Inc. raised its stake in shares of Grupo Financiero Santander Mexico SAB de CV by 0.9% in the second quarter. Rockefeller Financial Services Inc. now owns 229,228 shares of the company’s stock valued at $2,084,000 after buying an additional 2,045 shares during the last quarter. Huntington National Bank raised its stake in shares of Grupo Financiero Santander Mexico SAB de CV by 20.6% in the second quarter. Huntington National Bank now owns 18,098 shares of the company’s stock valued at $165,000 after buying an additional 3,097 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in shares of Grupo Financiero Santander Mexico SAB de CV by 19.7% in the second quarter. Profund Advisors LLC now owns 19,314 shares of the company’s stock valued at $176,000 after buying an additional 3,182 shares during the last quarter. Institutional investors own 32.40% of the company’s stock.

Grupo Financiero Santander Mexico SAB de CV Company Profile

Grupo Financiero Santander Mexico SAB de CV, formerly Santander Mexico Financial Group SAB de CV or Grupo Financiero Santander SAB de CV, is a Mexico-based financial institution. The Company is primarily engaged in the provision of multiple banking services, securities brokerage, financial advice services, as well as other related investment activities.

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