Shinhan Financial Group (NYSE:SHG) Hits New 52-Week High – Still a Buy?

Shinhan Financial Group Co Ltd (NYSE:SHG) reached a new 52-week high on Monday . The company traded as high as $56.14 and last traded at $55.9420, with a volume of 106354 shares changing hands. The stock had previously closed at $54.02.

Analyst Ratings Changes

SHG has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a report on Monday, December 29th. Zacks Research lowered Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Shinhan Financial Group Trading Up 4.0%

The business’s 50 day simple moving average is $53.49 and its 200-day simple moving average is $50.47. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $27.28 billion, a P/E ratio of 5.47, a PEG ratio of 0.57 and a beta of 1.01.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings results on Friday, November 14th. The bank reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $3.79 billion. As a group, analysts forecast that Shinhan Financial Group Co Ltd will post 5.97 EPS for the current year.

Institutional Trading of Shinhan Financial Group

A number of hedge funds have recently modified their holdings of SHG. American Century Companies Inc. raised its holdings in shares of Shinhan Financial Group by 16.5% in the second quarter. American Century Companies Inc. now owns 979,011 shares of the bank’s stock valued at $44,232,000 after purchasing an additional 138,779 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Shinhan Financial Group by 20.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,056 shares of the bank’s stock valued at $558,000 after acquiring an additional 2,080 shares during the last quarter. Ramirez Asset Management Inc. lifted its stake in Shinhan Financial Group by 1.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 218,158 shares of the bank’s stock valued at $9,856,000 after purchasing an additional 2,266 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Shinhan Financial Group in the second quarter valued at approximately $1,138,000. Finally, Creative Planning increased its holdings in shares of Shinhan Financial Group by 70.3% during the 2nd quarter. Creative Planning now owns 162,873 shares of the bank’s stock worth $7,359,000 after acquiring an additional 67,223 shares during 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.