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

Shinhan Financial Group (NYSE:SHG) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Shinhan Financial Group currently has an average rating of “Moderate Buy”.

Shinhan Financial Group Price Performance

SHG opened at $60.35 on Monday. The stock has a market cap of $29.30 billion, a P/E ratio of 5.88, a P/E/G ratio of 0.62 and a beta of 1.00. Shinhan Financial Group has a 12 month low of $28.76 and a 12 month high of $61.73. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.51. The company has a fifty day simple moving average of $54.84 and a 200 day simple moving average of $51.92.

Shinhan Financial Group (NYSE:SHG) last posted its earnings results on Friday, November 14th. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.08. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Shinhan Financial Group had a return on equity of 12.45% and a net margin of 22.38%. On average, research analysts expect that Shinhan Financial Group will post 5.97 EPS for the current year.

Institutional Investors Weigh In On Shinhan Financial Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SHG. Northwestern Mutual Wealth Management Co. boosted its position in Shinhan Financial Group by 1,465.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after acquiring an additional 850 shares during the last quarter. TD Private Client Wealth LLC bought a new stake in shares of Shinhan Financial Group in the third quarter worth $42,000. Westside Investment Management Inc. acquired a new position in Shinhan Financial Group during the second quarter worth $47,000. Osaic Holdings Inc. grew its position in Shinhan Financial Group by 387.3% in the second quarter. Osaic Holdings Inc. now owns 1,306 shares of the bank’s stock valued at $59,000 after purchasing an additional 1,038 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Shinhan Financial Group by 3,831.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,887 shares of the bank’s stock valued at $95,000 after buying an additional 1,839 shares during the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

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.