Short Interest in Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Drops By 42.8%

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 7,217 shares, a drop of 42.8% from the July 30th total of 12,615 shares. Based on an average trading volume of 55,482 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Grupo Financiero Banorte SAB de CV Price Performance

OTCMKTS:GBOOY traded down $0.40 during midday trading on Friday, hitting $55.96. 19,686 shares of the stock were exchanged, compared to its average volume of 41,216. The company has a market capitalization of $31.49 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 1.23 and a beta of 0.70. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.42. Grupo Financiero Banorte SAB de CV has a one year low of $43.73 and a one year high of $63.81. The business has a 50-day moving average price of $54.85 and a two-hundred day moving average price of $55.14.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.01. Grupo Financiero Banorte SAB de CV had a return on equity of 22.25% and a net margin of 14.97%.The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. Sell-side analysts predict that Grupo Financiero Banorte SAB de CV will post 6.46 EPS for the current year.

About Grupo Financiero Banorte SAB de CV

Grupo Financiero Banorte SAB de CV, commonly known as Banorte, is a major Mexican financial services holding company headquartered in Monterrey, Mexico. The group operates a universal banking franchise that serves retail, small and medium-sized enterprises, and large corporate clients across Mexico. Banorte provides a broad suite of banking services through an extensive branch network and digital channels and maintains an international investor presence, including ADRs that trade on the U.S. OTC market under the symbol GBOOY.

Banorte’s core businesses include retail and commercial banking—offering deposit accounts, payment and cash management services, consumer and mortgage loans, credit and debit cards, and lending to corporate clients.