MEXICO CITY, Jan 21 (Reuters) - Shares of Mexico's Grupo Financiero Banorte fell for the fourth consecutive session on Friday, a day after the company posted strong results and four days after it saw its stock price reach an all-time high.

Shares in Banorte, which operates the largest bank in the hands of Mexican investors, fell 4.6% to trade at 134.16 pesos on Friday.

The bank reported on Thursday that its net profit grew 52% on a year-on-year basis during the fourth quarter to reach nearly $442 million, with revenue during the three-month period up 7%.

"It was a good report with momentum toward recovery and (future) outlook. We attribute (the lower share price) more to the context of global risk aversion," said Carlos Hernandez, senior analyst at Masari Casa de Bolsa.

Some analysts also said Banorte's comments that it is analyzing the possibility of buying Citibanamex, a local subsidiary of U.S.-based banking giant Citigroup, could be applying downward pressure on its shares, which climbed to an all-time intraday record of 150.50 pesos on Monday.

"This time it's a bit of everything," said Jonathan Zuloaga, an analyst at the Columbus consulting firm in Mexico. "A bad session for the equity market and risk assets, plus there's been noise for a few days about whether (Banorte) is interested in Citibanamex."

Citi announced last week that it would sell its Citibanamex operations, ending a two-decade retail presence in the Latin American nation. According to an analysis note from Bank of America, Banorte would be the best positioned lender in the country for its acquisition. (Reporting by Noe Torres; Writing by Kylie Madry; Editing by David Alire Garcia and Paul Simao)