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

Grupo Financiero Banorte, S.A.B. de C.V. (OTCMKTS:GBOOF) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 6,330,176 shares, an increase of 65.6% from the July 15th total of 3,823,618 shares. Based on an average daily trading volume, of 28,356 shares, the short-interest ratio is currently 223.2 days.

Grupo Financiero Banorte Stock Down 9.9%

Shares of OTCMKTS GBOOF traded down $1.18 during mid-day trading on Monday, hitting $10.66. 4,431 shares of the company’s stock traded hands, compared to its average volume of 16,287. The company’s 50-day moving average is $10.92 and its two-hundred day moving average is $11.15. Grupo Financiero Banorte has a 1 year low of $8.50 and a 1 year 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.