Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Sees Significant Growth in Short Interest

Key Points

• Short interest surged 384.1% — short interest rose to 55,875 shares as of April 15 from 11,542 on March 31, leaving a short-interest ratio of 0.5 days while reported short interest equals 0.0% of shares sold short by percentage.
• Quarterly results mixed — EPS of $1.56 missed the $1.63 consensus, but revenue beat at $2.56 billion versus $2.39 billion, with a net margin of 14.23% and return on equity of 22.95%.
• Analyst view and trading — Zacks downgraded Banorte from "strong-buy" to "hold" (consensus: Hold); shares opened at $55.88 (up 0.6%), with a market cap of $31.44 billion and a P/E of 9.85.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) saw a large growth in short interest in April. As of April 15th, there was short interest totaling 55,875 shares, a growth of 384.1% from the March 31st total of 11,542 shares. Based on an average daily trading volume, of 114,336 shares, the short-interest ratio is presently 0.5 days. Currently, 0.0% of the company's stock are sold short.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered Grupo Financiero Banorte SAB de CV from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

Grupo Financiero Banorte SAB de CV Trading Up 0.6%

Shares of Grupo Financiero Banorte SAB de CV stock opened at $55.88 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.41. Grupo Financiero Banorte SAB de CV has a 12-month low of $40.00 and a 12-month high of $62.89. The firm has a market capitalization of $31.44 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 1.06 and a beta of 0.79. The firm's 50 day simple moving average is $55.73 and its two-hundred day simple moving average is $51.81.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $1.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.63 by ($0.07). Grupo Financiero Banorte SAB de CV had a net margin of 14.23% and a return on equity of 22.95%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.39 billion. Analysts predict that Grupo Financiero Banorte SAB de CV will post 6.51 EPS for the current year.

Grupo Financiero Banorte SAB de CV Company Profile

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.

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