Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Sees Strong Trading Volume – Time to Buy?

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) shares saw unusually-high trading volume on Friday . Approximately 122,311 shares were traded during mid-day trading, an increase of 105% from the previous session’s volume of 59,715 shares.The stock last traded at $52.60 and had previously closed at $53.31.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded 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, According to MarketBeat.com, Grupo Financiero Banorte SAB de CV presently has a consensus rating of “Strong Buy”.

Grupo Financiero Banorte SAB de CV Price Performance

The company has a 50-day moving average of $55.54 and a two-hundred day moving average of $50.52. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $29.08 billion, a PE ratio of 9.52, a P/E/G ratio of 1.02 and a beta of 0.81.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. The company had revenue of $2.30 billion during the quarter. Grupo Financiero Banorte SAB de CV had a net margin of 13.50% and a return on equity of 22.20%. Sell-side analysts predict that Grupo Financiero Banorte SAB de CV will post 4.84 EPS 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.