Shinhan Financial Group (NYSE:SHG) Reaches New 52-Week High – Time to Buy?

Shinhan Financial Group Co Ltd (NYSE:SHG)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $56.50 and last traded at $56.37, with a volume of 34358 shares. The stock had previously closed at $55.64.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Zacks Research lowered Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 2nd. Weiss Ratings reiterated 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 Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Shinhan Financial Group Trading Up 1.6%

The company has a market capitalization of $27.46 billion, a price-to-earnings ratio of 5.51, a P/E/G ratio of 0.57 and a beta of 1.01. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.51. The business’s 50 day moving average price is $53.79 and its two-hundred day moving average price is $51.28.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings data on Friday, November 14th. The bank reported $2.05 EPS for the quarter, beating the consensus estimate of $1.97 by $0.08. Shinhan Financial Group had a net margin of 22.38% and a return on equity of 12.45%. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $3.79 billion. On average, equities analysts predict that Shinhan Financial Group Co Ltd will post 5.97 earnings per share for the current fiscal year.

Institutional Trading of Shinhan Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC raised its position in shares of Shinhan Financial Group by 14.7% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,850 shares of the bank’s stock worth $421,000 after acquiring an additional 1,007 shares in the last quarter. Signaturefd LLC grew its stake in Shinhan Financial Group by 0.9% during the fourth quarter. Signaturefd LLC now owns 28,018 shares of the bank’s stock worth $1,503,000 after purchasing an additional 260 shares during the period. Perigon Wealth Management LLC acquired a new position in Shinhan Financial Group in the fourth quarter valued at approximately $258,000. Aberdeen Group plc boosted its holdings in shares of Shinhan Financial Group by 34.3% during the 4th quarter. Aberdeen Group plc now owns 14,188 shares of the bank’s stock worth $761,000 after buying an additional 3,627 shares in the last quarter. Finally, Banque Pictet & Cie SA bought a new stake in shares of Shinhan Financial Group in the 4th quarter valued at $464,000. Institutional investors and hedge funds own 7.76% of the company’s stock.

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.