Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Stock Price Crosses Above 50-Day Moving Average - Here's Why

Key Points

• Grupo Financiero Banorte SAB de CV's stock price rose above its 50-day moving average of $45.07, closing at $45.77 with a trading volume of 13,216 shares.
• The company increased its dividend to $2.1897 from $0.86, reflecting a yield of 12.07% and a payout ratio of 55.82%.
• In its latest earnings report, Grupo Financiero Banorte posted $1.33 EPS, missing estimates, and revealed a net margin of 13.01% on revenues of $2.01 billion.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $45.07 and traded as high as $45.77. Grupo Financiero Banorte SAB de CV shares last traded at $45.77, with a volume of 13,216 shares traded.

Grupo Financiero Banorte SAB de CV Trading Up 2.8%

The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.54. The stock has a market cap of $25.75 billion, a P/E ratio of 8.60, a PEG ratio of 0.91 and a beta of 0.71. The firm's 50-day simple moving average is $45.07 and its 200 day simple moving average is $39.97.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.02). Grupo Financiero Banorte SAB de CV had a return on equity of 21.04% and a net margin of 13.01%. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $40.02 billion. As a group, equities research analysts anticipate that Grupo Financiero Banorte SAB de CV will post 4.84 earnings per share for the current year.

Grupo Financiero Banorte SAB de CV Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, May 6th were given a $2.1897 dividend. This is a boost from Grupo Financiero Banorte SAB de CV's previous dividend of $0.86. The ex-dividend date was Monday, May 5th. This represents a yield of 12.07%. Grupo Financiero Banorte SAB de CV's dividend payout ratio is 55.82%.

About Grupo Financiero Banorte SAB de CV

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.

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