Zacks Investment Research Lowers Banco Santander Mexico Sa Instcn De (BSMX) to Hold

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Banco Santander Mexico Sa Instcn De (NYSE:BSMX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday.

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. “

Shares of BSMX opened at $6.52 on Thursday. The stock has a market cap of $4.68 billion, a PE ratio of 9.14, a P/E/G ratio of 1.77 and a beta of 1.60. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.21 and a quick ratio of 1.21. Banco Santander Mexico Sa Instcn De has a 52 week low of $6.14 and a 52 week high of $8.81.

Several institutional investors and hedge funds have recently made changes to their positions in BSMX. Standard Life Aberdeen plc acquired a new position in shares of Banco Santander Mexico Sa Instcn De during the second quarter valued at about $11,549,000. Bank of New York Mellon Corp acquired a new position in shares of Banco Santander Mexico Sa Instcn De during the third quarter valued at about $5,493,000. Barings LLC acquired a new position in shares of Banco Santander Mexico Sa Instcn De during the third quarter valued at about $4,924,000. Acadian Asset Management LLC acquired a new position in shares of Banco Santander Mexico Sa Instcn De during the third quarter valued at about $2,527,000. Finally, Aperio Group LLC raised its position in shares of Banco Santander Mexico Sa Instcn De by 459.8% during the second quarter. Aperio Group LLC now owns 290,448 shares of the bank’s stock valued at $1,943,000 after buying an additional 238,561 shares during the last quarter. 28.04% of the stock is owned by institutional investors and hedge funds.

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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