Grupo Financiero Santander Mexico S.A. B. de C.V. (BSMX) Shares are Up 5.71%

Grupo Financiero Santander Mexico S.A. B. de C.V. (BSMX) : Traders are bullish on Grupo Financiero Santander Mexico S.A. B. de C.V. (BSMX) as it has outperformed the S&P 500 by a wide margin of 2.64% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.65%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.71% in the last 1 week, and is up 3.7% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 5.63% and the 50-Day Moving Average is 7.34%. Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX): On Fridays trading session , Opening price of the stock was $9.81 with an intraday high of $9.93. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $9.77. However, the stock managed to close at $9.82, a loss of 0.30% for the day. On the previous day, the stock had closed at $9.85. The total traded volume of the day was 1,568,933 shares.

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Institutional Investors own 28.21% of Grupo Financiero Santander Mexico S.A. B. de C.V. shares. Also, Equity analysts at the Brokerage firm JP Morgan downgrades its rating on Grupo Financiero Santander Mexico S.A. B. de C.V. (NYSE:BSMX). The rating major has initiated the coverage with neutral rating on the shares. Earlier, the shares were rated a Overweight by the brokerage firm. The rating by the firm was issued on August 4, 2016.

Grupo Financiero Santander Mexico SAB de CV, formerly Santander Mexico Financial Group SAB de CV or Grupo Financiero Santander SAB de CV, is a Mexico-based financial institution. The Company is primarily engaged in the provision of multiple banking services, securities brokerage, financial advice services, as well as other related investment activities. The Company offers its services to both, individual and corporate clients. The Company owns such principal subsidiaries as Banco Santander (Mexico) SA, Casa de Bolsa Santander SA de CV and Zurich Santander Seguros Mexico S.A.

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