Banco Santander Mexico Sa Instcn De (BSMX) Shares Down 8.4%

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Banco Santander Mexico Sa Instcn De (NYSE:BSMX) shares fell 8.4% during trading on Thursday . The company traded as low as $6.32 and last traded at $6.45. 3,057,503 shares traded hands during trading, an increase of 108% from the average session volume of 1,468,991 shares. The stock had previously closed at $7.04.

Separately, Zacks Investment Research raised Banco Santander Mexico Sa Instcn De from a “hold” rating to a “strong-buy” rating and set a $9.00 target price for the company in a research note on Thursday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.00.

The company has a market cap of $4.68 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 1.77 and a beta of 1.60. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.94.

Hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new position in shares of Banco Santander Mexico Sa Instcn De during the third quarter worth about $5,493,000. SPX Equities Gestao de Recursos Ltda boosted its position in shares of Banco Santander Mexico Sa Instcn De by 200.0% during the third quarter. SPX Equities Gestao de Recursos Ltda now owns 300,000 shares of the bank’s stock worth $2,328,000,000,000 after buying an additional 200,000 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Banco Santander Mexico Sa Instcn De by 189.3% during the third quarter. JPMorgan Chase & Co. now owns 294,803 shares of the bank’s stock worth $2,288,000 after buying an additional 192,916 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Banco Santander Mexico Sa Instcn De during the third quarter worth about $2,527,000. Finally, Barings LLC acquired a new position in shares of Banco Santander Mexico Sa Instcn De during the third quarter worth about $4,924,000. 28.04% of the stock is owned by institutional investors and hedge funds.

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Banco Santander Mexico Sa Instcn De Company Profile (NYSE:BSMX)

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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