Grupo Financiero Banorte, S.A.B. de C.V. (OTCMKTS:GBOOF) Sees Significant Drop in Short Interest

Grupo Financiero Banorte, S.A.B. de C.V. (OTCMKTS:GBOOF) was the recipient of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 3,957,453 shares, a decrease of 37.5% from the July 30th total of 6,330,176 shares. Based on an average daily trading volume, of 25,744 shares, the days-to-cover ratio is currently 153.7 days.

Grupo Financiero Banorte Trading Up 1.3%

Shares of OTCMKTS GBOOF opened at $11.61 on Wednesday. The business’s 50 day moving average price is $11.08 and its 200-day moving average price is $11.09. Grupo Financiero Banorte has a fifty-two week low of $8.84 and a fifty-two week high of $13.25.

Grupo Financiero Banorte Company Profile

Grupo Financiero Banorte SAB de CV, commonly known as Banorte, is one of Mexico’s largest diversified financial groups. Founded in 1899 as Banco Mercantil de Monterrey, the company has expanded through both organic growth and strategic acquisitions to build a broad national presence. Headquartered in Monterrey, Nuevo León, Banorte operates under a universal banking model, integrating traditional banking services with a range of complementary financial offerings.

Banorte’s core activities encompass retail and commercial banking, where it provides deposit accounts, consumer and mortgage lending, and financing solutions for small and medium-sized enterprises.