Zacks Investment Research upgraded shares of Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) from a hold rating to a buy rating in a report released on Tuesday morning. The brokerage currently has $12.00 price objective on the bank’s stock.

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. “

Several other research firms also recently weighed in on BSMX. Citigroup Inc. upgraded shares of Grupo Financiero Santander Mexico S.A. B. de C.V. from a neutral rating to a buy rating in a report on Thursday, July 20th. ValuEngine upgraded shares of Grupo Financiero Santander Mexico S.A. B. de C.V. from a hold rating to a buy rating in a report on Tuesday, July 25th. J P Morgan Chase & Co upgraded shares of Grupo Financiero Santander Mexico S.A. B. de C.V. from a neutral rating to an overweight rating and dropped their target price for the company from $9.50 to $7.50 in a report on Thursday, May 4th. BidaskClub upgraded shares of Grupo Financiero Santander Mexico S.A. B. de C.V. from a buy rating to a strong-buy rating in a report on Thursday, August 17th. Finally, TheStreet upgraded shares of Grupo Financiero Santander Mexico S.A. B. de C.V. from a c rating to a b- rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $9.20.

Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE BSMX) opened at 10.75 on Tuesday. The company has a market cap of $14.57 billion, a P/E ratio of 14.24 and a beta of 1.39. Grupo Financiero Santander Mexico S.A. B. de C.V. has a 12-month low of $6.73 and a 12-month high of $10.79. The firm’s 50 day moving average is $10.36 and its 200 day moving average is $9.18.

Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) last posted its earnings results on Friday, July 28th. The bank reported $0.18 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. Grupo Financiero Santander Mexico S.A. B. de C.V. had a net margin of 15.97% and a return on equity of 15.11%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $963.79 million. Equities research analysts anticipate that Grupo Financiero Santander Mexico S.A. B. de C.V. will post $0.74 EPS for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in Grupo Financiero Santander Mexico S.A. B. de C.V. by 4.1% in the second quarter. Huntington National Bank now owns 11,891 shares of the bank’s stock valued at $115,000 after buying an additional 463 shares in the last quarter. Atria Investments LLC purchased a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. during the second quarter valued at about $167,000. NN Investment Partners Holdings N.V. purchased a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. during the second quarter valued at about $213,000. Quantitative Systematic Strategies LLC purchased a new stake in Grupo Financiero Santander Mexico S.A. B. de C.V. during the first quarter valued at about $312,000. Finally, Paragon Capital Management Ltd boosted its stake in Grupo Financiero Santander Mexico S.A. B. de C.V. by 42.8% in the second quarter. Paragon Capital Management Ltd now owns 33,429 shares of the bank’s stock valued at $322,000 after buying an additional 10,017 shares in the last quarter. 32.76% of the stock is currently owned by institutional investors.

About Grupo Financiero Santander Mexico S.A. B. de C.V.

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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