Shinhan Financial Group (NYSE:SHG) Raised to Strong-Buy at Zacks Research

Shinhan Financial Group (NYSE:SHG) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Shinhan Financial Group has an average rating of “Strong Buy”.

Shinhan Financial Group Price Performance

NYSE:SHG opened at $74.60 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $35.02 billion, a P/E ratio of 10.03, a P/E/G ratio of 0.55 and a beta of 0.98. Shinhan Financial Group has a 12 month low of $47.05 and a 12 month high of $85.57. The business’s 50-day moving average is $78.30 and its 200 day moving average is $70.75.

Shinhan Financial Group (NYSE:SHG) last announced its quarterly earnings results on Friday, August 14th. The bank reported $2.26 EPS for the quarter. The company had revenue of $2.96 billion during the quarter. Shinhan Financial Group had a return on equity of 8.63% and a net margin of 15.69%. On average, equities research analysts forecast that Shinhan Financial Group will post 8.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shinhan Financial Group

Several institutional investors have recently modified their holdings of the stock. First Trust Advisors LP lifted its holdings in shares of Shinhan Financial Group by 107.5% in the 1st quarter. First Trust Advisors LP now owns 34,286 shares of the bank’s stock worth $2,102,000 after acquiring an additional 17,759 shares during the last quarter. Nykredit A S purchased a new stake in Shinhan Financial Group in the 2nd quarter worth about $5,326,000. Quantinno Capital Management LP raised its position in Shinhan Financial Group by 40.5% in the 1st quarter. Quantinno Capital Management LP now owns 173,250 shares of the bank’s stock worth $10,624,000 after purchasing an additional 49,966 shares during the period. Corient Private Wealth LP lifted its stake in Shinhan Financial Group by 46.4% in the second quarter. Corient Private Wealth LP now owns 38,537 shares of the bank’s stock worth $2,437,000 after purchasing an additional 12,212 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Shinhan Financial Group by 17.3% in the second quarter. Sequoia Financial Advisors LLC now owns 44,560 shares of the bank’s stock worth $2,818,000 after purchasing an additional 6,558 shares during the last quarter. 7.76% of the stock is owned by institutional investors.

Shinhan Financial Group Company Profile

Shinhan Financial Group Co, Ltd. is a South Korean financial holding company that provides a broad range of financial services through its subsidiaries. Its businesses include commercial and retail banking, credit cards, securities and investment banking, insurance, asset management, consumer finance, and other related financial services.

The group’s principal banking subsidiary is Shinhan Bank, which serves individual, corporate, and institutional customers with deposit accounts, loans, payment services, foreign exchange, wealth management, and digital banking products.