Santander Mexico Fincl Gp SAB deCV (NYSE:BSMX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage presently has a $12.00 target price on the bank’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.72% from the company’s previous close.

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. “

A number of other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of Santander Mexico Fincl Gp SAB deCV from a “strong-buy” rating to a “buy” rating in a research note on Thursday. ValuEngine cut shares of Santander Mexico Fincl Gp SAB deCV from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. TheStreet raised shares of Santander Mexico Fincl Gp SAB deCV from a “c” rating to a “b-” rating in a research note on Tuesday, August 1st. Finally, Citigroup Inc raised shares of Santander Mexico Fincl Gp SAB deCV from a “neutral” rating to a “buy” rating in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $9.20.

Shares of Santander Mexico Fincl Gp SAB deCV (BSMX) traded up 0.58% during mid-day trading on Monday, reaching $10.37. 1,345,215 shares of the company traded hands. The firm has a 50-day moving average price of $10.45 and a 200 day moving average price of $9.29. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 13.74 and a beta of 1.39. Santander Mexico Fincl Gp SAB deCV has a 52 week low of $6.73 and a 52 week high of $10.82.

Santander Mexico Fincl Gp SAB deCV (NYSE:BSMX) last issued its quarterly earnings data on Friday, July 28th. The bank reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $963.79 million. Santander Mexico Fincl Gp SAB deCV had a net margin of 21.50% and a return on equity of 13.20%. On average, analysts anticipate that Santander Mexico Fincl Gp SAB deCV will post $0.74 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This piece was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/09/04/zacks-investment-research-upgrades-santander-mexico-fincl-gp-sab-decv-bsmx-to-buy.html.

A number of institutional investors have recently added to or reduced their stakes in BSMX. Principal Financial Group Inc. acquired a new stake in Santander Mexico Fincl Gp SAB deCV in the 2nd quarter valued at $23,484,000. Global X Management Co. LLC acquired a new stake in Santander Mexico Fincl Gp SAB deCV in the 2nd quarter valued at $10,334,000. JPMorgan Chase & Co. grew its stake in Santander Mexico Fincl Gp SAB deCV by 247.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 738,423 shares of the bank’s stock valued at $7,117,000 after acquiring an additional 525,642 shares during the period. Northern Trust Corp grew its stake in Santander Mexico Fincl Gp SAB deCV by 49.2% in the 2nd quarter. Northern Trust Corp now owns 1,057,865 shares of the bank’s stock valued at $10,198,000 after acquiring an additional 348,948 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its stake in Santander Mexico Fincl Gp SAB deCV by 44.5% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 581,928 shares of the bank’s stock valued at $5,610,000 after acquiring an additional 179,093 shares during the period. 31.25% of the stock is currently owned by hedge funds and other institutional investors.

Santander Mexico Fincl Gp SAB deCV 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.

Receive News & Stock Ratings for Santander Mexico Fincl Gp SAB deCV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Santander Mexico Fincl Gp SAB deCV and related stocks with our FREE daily email newsletter.