Short Interest in Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Drops By 57.1%

Key Points

• Short Interest Dropped: Grupo Financiero Banorte experienced a significant decrease in short interest of 57.1% in August, with the total short interest falling to just 300 shares by August 31st.
• Stock Performance: Shares of Grupo Financiero Banorte rose by 1.0%, trading at $49.28, and the company currently has a market capitalization of $27.73 billion.
• Earnings Report: In its latest quarterly earnings, Grupo Financiero Banorte reported $1.33 EPS, missing forecasts, with revenue totaling $2.01 billion against an expectation of $40.02 billion.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 300 shares, a decrease of 57.1% from the August 15th total of 700 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 26,600 shares, the short-interest ratio is presently 0.0 days. Based on an average daily volume of 26,600 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are sold short.

Grupo Financiero Banorte SAB de CV Price Performance

Shares of OTCMKTS:GBOOY traded down $0.81 on Thursday, reaching $50.08. 22,794 shares of the company traded hands, compared to its average volume of 17,113. Grupo Financiero Banorte SAB de CV has a fifty-two week low of $30.00 and a fifty-two week high of $51.04. The company's 50 day moving average is $45.41 and its 200-day moving average is $42.71. The stock has a market capitalization of $28.18 billion, a PE ratio of 9.56, a P/E/G ratio of 1.07 and a beta of 0.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.82 and a quick ratio of 0.82.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.02). Grupo Financiero Banorte SAB de CV had a net margin of 13.01% and a return on equity of 21.67%. The business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $40.02 billion. As a group, analysts anticipate that Grupo Financiero Banorte SAB de CV will post 4.84 earnings per share for the current fiscal year.

Grupo Financiero Banorte SAB de CV Company Profile

Grupo Financiero Banorte, SAB. de C.V., through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally. The company accepts checking, current, retirement, and payroll accounts; and provides loans, including mortgage, car, payroll, personal, structured, syndicated, SME loans, and credit cards, as well as letter of credit financing, acquisition funding, and import and export foreign trade financing.