Shinhan Financial Group (NYSE:SHG) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Shinhan Financial Group (NYSE:SHG) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

Shinhan Financial Group Stock Performance

NYSE SHG opened at $60.35 on Monday. The firm has a market cap of $29.30 billion, a P/E ratio of 5.88, a P/E/G ratio of 0.62 and a beta of 1.00. Shinhan Financial Group has a 52-week low of $28.76 and a 52-week high of $61.73. The business’s 50-day moving average price is $54.84 and its 200 day moving average price is $51.92. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.51.

Shinhan Financial Group (NYSE:SHG) last released its earnings results on Friday, November 14th. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $1.97 by $0.08. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Shinhan Financial Group had a net margin of 22.38% and a return on equity of 12.45%. On average, equities research analysts expect that Shinhan Financial Group will post 5.97 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bridgewater Advisors Inc. lifted its holdings in shares of Shinhan Financial Group by 2.2% during the 4th quarter. Bridgewater Advisors Inc. now owns 9,438 shares of the bank’s stock worth $541,000 after acquiring an additional 199 shares during the period. Assetmark Inc. boosted its holdings in Shinhan Financial Group by 6.3% during the fourth quarter. Assetmark Inc. now owns 3,492 shares of the bank’s stock valued at $187,000 after purchasing an additional 207 shares in the last quarter. Corient Private Wealth LLC grew its position in Shinhan Financial Group by 1.1% in the second quarter. Corient Private Wealth LLC now owns 20,076 shares of the bank’s stock valued at $907,000 after acquiring an additional 213 shares during the period. Savant Capital LLC boosted its stake in shares of Shinhan Financial Group by 3.5% in the 3rd quarter. Savant Capital LLC now owns 6,221 shares of the bank’s stock valued at $313,000 after purchasing an additional 213 shares in the last quarter. Finally, Natural Investments LLC boosted its position in Shinhan Financial Group by 0.8% in the fourth quarter. Natural Investments LLC now owns 28,874 shares of the bank’s stock valued at $1,548,000 after buying an additional 216 shares in the last quarter. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Shinhan Financial Group Company Profile

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company’s principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.