Shinhan Financial Group (NYSE:SHG) Issues Earnings Results

Shinhan Financial Group (NYSE:SHG) issued its quarterly earnings data on Thursday. The bank reported $2.50 EPS for the quarter, topping the consensus estimate of $2.28 by $0.22, Zacks reports. Shinhan Financial Group had a return on equity of 10.97% and a net margin of 20.07%.

Shinhan Financial Group Stock Up 1.2%

Shares of NYSE SHG traded up $0.85 during mid-day trading on Thursday, hitting $71.50. 20,260 shares of the stock traded hands, compared to its average volume of 281,634. The company has a market cap of $33.94 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 0.57 and a beta of 0.94. The stock has a fifty day moving average price of $66.55 and a 200-day moving average price of $64.19. Shinhan Financial Group has a 52 week low of $46.26 and a 52 week high of $73.80. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.00 and a current ratio of 1.00.

Institutional Trading of Shinhan Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Compound Planning Inc. lifted its position in Shinhan Financial Group by 5.8% during the 4th quarter. Compound Planning Inc. now owns 16,281 shares of the bank’s stock valued at $873,000 after acquiring an additional 892 shares during the period. Corient Private Wealth LLC grew its holdings in Shinhan Financial Group by 8.1% in the fourth quarter. Corient Private Wealth LLC now owns 22,909 shares of the bank’s stock worth $1,229,000 after purchasing an additional 1,726 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Shinhan Financial Group by 5.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,516 shares of the bank’s stock valued at $457,000 after purchasing an additional 418 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Shinhan Financial Group during the fourth quarter valued at approximately $376,000. Finally, Millennium Management LLC lifted its holdings in shares of Shinhan Financial Group by 107.8% during the fourth quarter. Millennium Management LLC now owns 203,703 shares of the bank’s stock valued at $10,925,000 after purchasing an additional 105,677 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SHG shares. Zacks Research cut Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings upgraded shares of Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Shinhan Financial Group has an average rating of “Moderate Buy”.

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.