Zacks Investment Research upgraded shares of Banco Santander Mexico Sa Instcn De (NYSE:BSMX) from a sell rating to a hold rating in a report published on Friday morning, Zacks.com reports.

According to Zacks, “Banco Santander, S.A. Institución de Banca Múltiple provides banking services to commercial and private customers. The company’s products and services consist of securities brokerage, financial advice services, as well as other related investment activities and operations aimed at individuals and small and medium enterprises. Banco Santander, S.A. Institución de Banca Múltiple, formerly known as Grupo Financiero Santander, is based in Mexico. “

Several other brokerages also recently commented on BSMX. Credit Suisse Group downgraded Banco Santander Mexico Sa Instcn De from an outperform rating to an underperform rating in a report on Thursday, May 14th. Citigroup initiated coverage on Banco Santander Mexico Sa Instcn De in a research report on Thursday, May 28th. They issued a buy rating for the company. ValuEngine raised Banco Santander Mexico Sa Instcn De from a sell rating to a hold rating in a research report on Thursday, July 2nd. Goldman Sachs Group initiated coverage on Banco Santander Mexico Sa Instcn De in a research report on Wednesday, June 17th. They issued a buy rating for the company. Finally, JPMorgan Chase & Co. cut Banco Santander Mexico Sa Instcn De from an overweight rating to a neutral rating and set a $7.00 price objective for the company. in a research report on Thursday, April 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $7.25.

Shares of BSMX stock opened at $3.57 on Friday. Banco Santander Mexico Sa Instcn De has a 12 month low of $2.52 and a 12 month high of $8.01. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $3.62 and its two-hundred day moving average is $4.76. The company has a market cap of $4.78 billion, a PE ratio of 4.35, a price-to-earnings-growth ratio of 6.00 and a beta of 1.49.

Banco Santander Mexico Sa Instcn De (NYSE:BSMX) last announced its quarterly earnings results on Wednesday, April 29th. The bank reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. Banco Santander Mexico Sa Instcn De had a return on equity of 15.62% and a net margin of 14.92%. The company had revenue of $1.12 billion for the quarter. As a group, equities analysts expect that Banco Santander Mexico Sa Instcn De will post 0.48 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of BSMX. Renaissance Technologies LLC bought a new position in Banco Santander Mexico Sa Instcn De in the fourth quarter worth $103,000. Dynamic Technology Lab Private Ltd bought a new position in Banco Santander Mexico Sa Instcn De in the fourth quarter worth $113,000. Marshall Wace North America L.P. lifted its position in Banco Santander Mexico Sa Instcn De by 71.0% in the fourth quarter. Marshall Wace North America L.P. now owns 85,588 shares of the bank’s stock worth $580,000 after purchasing an additional 35,523 shares during the period. Marshall Wace LLP lifted its position in Banco Santander Mexico Sa Instcn De by 176.8% in the fourth quarter. Marshall Wace LLP now owns 103,982 shares of the bank’s stock worth $705,000 after purchasing an additional 66,415 shares during the period. Finally, Bank of America Corp DE lifted its position in Banco Santander Mexico Sa Instcn De by 818.2% in the fourth quarter. Bank of America Corp DE now owns 394,439 shares of the bank’s stock worth $2,674,000 after purchasing an additional 351,480 shares during the period. 10.63% of the stock is owned by hedge funds and other institutional investors.

About Banco Santander Mexico Sa Instcn De

Banco Santander (México), SA, Institución de Banca Múltiple, Grupo Financiero Santander México provides various banking products and services in Mexico. The company operates through Retail Banking and Global Corporate Banking segments. It offers various deposit products, such as current accounts, savings accounts, and time deposits, as well as certificates of interbank deposits; and payroll loans, personal loans, credit cards, mortgages, and insurance brokerage services.

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