Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Hits New 1-Year High – Here’s Why

Shares of Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) hit a new 52-week high during trading on Wednesday . The stock traded as high as $63.81 and last traded at $57.51, with a volume of 44585 shares trading hands. The stock had previously closed at $57.36.

Grupo Financiero Banorte SAB de CV Price Performance

The stock’s 50 day moving average price is $53.82 and its two-hundred day moving average price is $55.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $32.51 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.27 and a beta of 0.70.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) last announced its earnings results on Tuesday, July 21st. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.58 by $0.01. Grupo Financiero Banorte SAB de CV had a net margin of 14.97% and a return on equity of 22.25%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. On average, equities research analysts anticipate that Grupo Financiero Banorte SAB de CV will post 6.46 EPS for the current year.

About Grupo Financiero Banorte SAB de CV

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.