Grupo Financiero Banorte (OTCMKTS:GBOOY) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Grupo Financiero Banorte (OTCMKTS:GBOOYGet Rating) from a buy rating to a hold rating in a research note published on Thursday morning, Zacks.com reports.

According to Zacks, “Grupo Financiero Banorte, S.A.B. de C.V. (GFNorte), is a Mexican banking and financial services holding company. It is one of the largest commercial banks of Mexico by assets and loans, and the largest retirement fund administrator. The Bank operates in four business sectors: Banking, Savings, Brokerage and Other financial services. The Banking division provides current accounts, consumer and commercial loans, as well as credit and debit cards, among others. The Savings division offers products related to insurance and pension schemes. The Brokerage division focuses on the investment funds management and securities trading. The Other financial services division includes leasing, factoring, portfolio management and warehousing, among others. The Bank offers financial products and services to individual and business customers. GFNorte is one of the banks with better quality assets within the Mexican financial system and possesses adequate capitalization and liquidity levels. “

OTCMKTS GBOOY opened at $31.85 on Thursday. The stock’s 50 day moving average is $34.97 and its 200 day moving average is $33.33. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. Grupo Financiero Banorte has a 12 month low of $28.54 and a 12 month high of $39.76. The stock has a market cap of $18.37 billion, a PE ratio of 10.02, a P/E/G ratio of 0.62 and a beta of 1.20.

Grupo Financiero Banorte Company Profile (Get Rating)

Grupo Financiero Banorte, SAB. de C.V., through its subsidiaries, provides banking and financial products and services in Mexico. The company offers time and demand deposits; car, payroll, consumer, and corporate loans; mortgages; and debit and credit cards. It also provides medical, personal accident, and life insurance products; and retirement fund management services.

Further Reading

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