Shinhan Financial Group (NYSE:SHG) Sets New 52-Week High – Here’s Why

Shinhan Financial Group Co Ltd (NYSE:SHG) reached a new 52-week high during trading on Tuesday . The company traded as high as $60.55 and last traded at $60.4410, with a volume of 23486 shares trading hands. The stock had previously closed at $57.92.

Analyst Ratings Changes

A number of research firms have issued reports on SHG. Zacks Research downgraded shares of Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Shinhan Financial Group Stock Performance

The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $29.33 billion, a PE ratio of 5.88, a price-to-earnings-growth ratio of 0.61 and a beta of 1.01. The company’s 50 day moving average price is $54.06 and its 200-day moving average price is $51.52.

Shinhan Financial Group (NYSE:SHG) last posted 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 return on equity of 12.45% and a net margin of 22.38%.The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $3.79 billion. Equities research analysts anticipate that Shinhan Financial Group Co Ltd will post 5.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC raised its stake in shares of Shinhan Financial Group by 5.3% during the 3rd quarter. Lazard Asset Management LLC now owns 1,576,735 shares of the bank’s stock valued at $79,420,000 after purchasing an additional 78,768 shares during the period. Northern Trust Corp boosted its stake in Shinhan Financial Group by 0.5% in the 3rd quarter. Northern Trust Corp now owns 1,498,706 shares of the bank’s stock worth $75,490,000 after purchasing an additional 7,518 shares during the period. American Century Companies Inc. grew its holdings in Shinhan Financial Group by 11.3% during the 3rd quarter. American Century Companies Inc. now owns 1,089,798 shares of the bank’s stock valued at $54,893,000 after buying an additional 110,787 shares in the last quarter. Bank of America Corp DE increased its position in shares of Shinhan Financial Group by 0.5% during the third quarter. Bank of America Corp DE now owns 686,044 shares of the bank’s stock valued at $34,556,000 after buying an additional 3,709 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Shinhan Financial Group by 152.0% in the first quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock worth $18,689,000 after buying an additional 351,413 shares in the last quarter. 7.76% of the stock is currently owned by hedge funds and other institutional investors.

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.