Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

BSMX has been the subject of several other research reports. ValuEngine lowered shares of Grupo Financiero Santander Mexico S.A. B. de C.V. from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. 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 research note on Thursday, July 20th. BidaskClub lowered shares of Grupo Financiero Santander Mexico S.A. B. de C.V. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 31st. 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 research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.20.

Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) opened at 10.20 on Wednesday. The firm has a market cap of $13.83 billion, a P/E ratio of 13.51 and a beta of 1.39. Grupo Financiero Santander Mexico S.A. B. de C.V. has a 52-week low of $6.73 and a 52-week high of $10.82. The stock has a 50 day moving average price of $10.47 and a 200 day moving average price of $9.36.

Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX) last issued its quarterly earnings results on Friday, July 28th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $963.79 million. Equities analysts predict that Grupo Financiero Santander Mexico S.A. B. de C.V. will post $0.74 earnings per share for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank grew its stake in Grupo Financiero Santander Mexico S.A. B. de C.V. by 4.1% in the 2nd 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. Eqis Capital Management Inc. grew its stake in Grupo Financiero Santander Mexico S.A. B. de C.V. by 3.0% in the 2nd quarter. Eqis Capital Management Inc. now owns 39,668 shares of the bank’s stock valued at $382,000 after buying an additional 1,161 shares in the last quarter. State Street Corp grew its stake in Grupo Financiero Santander Mexico S.A. B. de C.V. by 2.9% in the 2nd quarter. State Street Corp now owns 45,899 shares of the bank’s stock valued at $442,000 after buying an additional 1,300 shares in the last quarter. Aperio Group LLC grew its stake in Grupo Financiero Santander Mexico S.A. B. de C.V. by 10.5% in the 2nd quarter. Aperio Group LLC now owns 58,074 shares of the bank’s stock valued at $560,000 after buying an additional 5,518 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Grupo Financiero Santander Mexico S.A. B. de C.V. by 16.6% in the 2nd quarter. Sei Investments Co. now owns 49,192 shares of the bank’s stock valued at $474,000 after buying an additional 6,992 shares in the last quarter. Institutional investors and hedge funds own 31.25% of the company’s stock.

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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