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

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $53.6030, but opened at $57.34. Grupo Financiero Banorte SAB de CV shares last traded at $55.30, with a volume of 2,232 shares traded.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Grupo Financiero Banorte SAB de CV from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Grupo Financiero Banorte SAB de CV has a consensus rating of “Strong Buy”.

Grupo Financiero Banorte SAB de CV Price Performance

The firm has a 50-day moving average of $54.93 and a 200 day moving average of $50.22. The company has a market capitalization of $29.58 billion, a PE ratio of 9.68, a PEG ratio of 1.04 and a beta of 0.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.23 and a quick ratio of 0.23.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last issued its earnings results on Tuesday, January 27th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.19. The business had revenue of $2.30 billion during the quarter. Grupo Financiero Banorte SAB de CV had a return on equity of 22.20% and a net margin of 13.50%. As a group, research 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 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.