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

Zacks Research upgraded shares of Shinhan Financial Group (NYSE:SHG) from a hold rating to a strong-buy rating in a report issued on Thursday morning,Zacks.com reports.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Shinhan Financial Group Stock Performance

NYSE SHG traded down $1.08 during trading hours on Thursday, hitting $59.79. The company had a trading volume of 513,245 shares, compared to its average volume of 332,895. The company has a quick ratio of 1.03, a current ratio of 1.00 and a debt-to-equity ratio of 1.54. The firm has a market cap of $29.03 billion, a P/E ratio of 6.64, a price-to-earnings-growth ratio of 0.49 and a beta of 0.97. Shinhan Financial Group has a fifty-two week low of $28.76 and a fifty-two week high of $73.40. The business has a fifty day simple moving average of $60.88 and a 200-day simple moving average of $54.66.

Institutional Investors Weigh In On Shinhan Financial Group

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in Shinhan Financial Group by 9.1% in the 1st quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock valued at $4,049,000 after acquiring an additional 10,534 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Shinhan Financial Group in the 1st quarter worth approximately $210,000. Millennium Management LLC lifted its stake in Shinhan Financial Group by 152.0% during the first quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock valued at $18,689,000 after purchasing an additional 351,413 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Shinhan Financial Group by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock valued at $10,376,000 after purchasing an additional 118,548 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Shinhan Financial Group by 10.2% during the second quarter. Envestnet Asset Management Inc. now owns 217,835 shares of the bank’s stock worth $9,842,000 after buying an additional 20,126 shares in the last quarter. 7.76% of the stock is currently owned by institutional investors and hedge funds.

About Shinhan Financial Group

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.