Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) have been given an average broker rating score of 4.00 (Sell) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a sell rating.
Brokerages have set a 12-month consensus price target of $43.00 for the company, according to Zacks. Zacks has also assigned Shinhan Financial Group an industry rank of 203 out of 255 based on the ratings given to related companies.
Several research firms recently issued reports on SHG. JPMorgan Chase & Co. downgraded Shinhan Financial Group from an “overweight” rating to a “neutral” rating in a report on Monday, August 5th. ValuEngine downgraded Shinhan Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a report on Saturday, July 27th.
Shares of SHG traded up $0.80 during midday trading on Friday, reaching $35.57. 497 shares of the company were exchanged, compared to its average volume of 70,049. The stock has a 50-day moving average price of $34.52 and a 200-day moving average price of $36.97. The company has a market cap of $16.20 billion, a price-to-earnings ratio of 2.97 and a beta of 0.82. Shinhan Financial Group has a 1-year low of $32.14 and a 1-year high of $41.79. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.71.
Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings results on Tuesday, August 20th. The bank reported $3.66 earnings per share (EPS) for the quarter. The firm had revenue of $3.02 billion for the quarter. Shinhan Financial Group had a return on equity of 12.35% and a net margin of 17.97%.
Several hedge funds have recently modified their holdings of the company. Baldwin Brothers Inc. MA purchased a new position in Shinhan Financial Group in the 3rd quarter valued at approximately $64,000. Hexavest Inc. purchased a new position in Shinhan Financial Group in the 3rd quarter valued at approximately $299,000. Nomura Holdings Inc. purchased a new position in Shinhan Financial Group in the 2nd quarter valued at approximately $271,000. Royal Bank of Canada increased its position in Shinhan Financial Group by 177.3% during the second quarter. Royal Bank of Canada now owns 53,236 shares of the bank’s stock worth $2,070,000 after buying an additional 34,038 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Shinhan Financial Group during the second quarter worth $577,000. 2.82% of the stock is owned by institutional investors and hedge funds.
About Shinhan Financial Group
Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through five segments: Banking, Credit Cards, Securities, Life Insurance, and Others. It offers retail banking services, including mortgage and home equity, and retail lending; demand, savings, and fixed deposit-taking; checking accounts; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.
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