Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Gap Up – Here’s Why

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) gapped up prior to trading on Thursday . The stock had previously closed at $56.18, but opened at $59.99. Grupo Financiero Banorte SAB de CV shares last traded at $56.87, with a volume of 1,077 shares.

Grupo Financiero Banorte SAB de CV Trading Down 0.0%

The stock has a fifty day simple moving average of $54.22 and a 200 day simple moving average of $55.27. The firm has a market capitalization of $32.00 billion, a P/E ratio of 9.59, a PEG ratio of 1.24 and a beta of 0.70. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.42.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last released its earnings results on Tuesday, July 21st. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.01. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Grupo Financiero Banorte SAB de CV had a return on equity of 22.25% and a net margin of 14.97%. As a group, research analysts forecast that Grupo Financiero Banorte SAB de CV will post 6.46 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.