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

Shinhan Financial Group (NYSE:SHG) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Buy”.

Shinhan Financial Group Stock Down 1.8%

SHG opened at $59.79 on Thursday. The company has a 50-day moving average price of $60.88 and a 200 day moving average price of $54.66. Shinhan Financial Group has a twelve month low of $28.76 and a twelve month high of $73.40. 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 company has a market cap of $29.03 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 0.49 and a beta of 0.97.

Institutional Investors Weigh In On Shinhan Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. increased its holdings in Shinhan Financial Group by 71.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Shinhan Financial Group in the fourth quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd boosted its holdings in Shinhan Financial Group by 6,238.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock valued at $44,000 after purchasing an additional 811 shares in the last quarter. TD Private Client Wealth LLC purchased a new position in Shinhan Financial Group in the third quarter valued at approximately $42,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Shinhan Financial Group by 1,465.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after purchasing an additional 850 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.