Shinhan Financial Group (NYSE:SHG) Hits New 12-Month High – Still a Buy?

Shinhan Financial Group Co Ltd (NYSE:SHG)’s share price hit a new 52-week high on Thursday . The stock traded as high as $73.95 and last traded at $74.4890, with a volume of 2256 shares changing hands. The stock had previously closed at $72.38.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SHG shares. Zacks Research raised Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

Shinhan Financial Group Stock Up 2.2%

The firm has a market cap of $36.03 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 0.56 and a beta of 0.94. The stock’s 50 day moving average is $68.40 and its 200 day moving average is $65.59. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.43.

Shinhan Financial Group (NYSE:SHG) last released its earnings results on Tuesday, March 31st. The bank reported $1.98 earnings per share for the quarter. Shinhan Financial Group had a return on equity of 8.69% and a net margin of 15.69%. Analysts forecast that Shinhan Financial Group Co Ltd will post 8.53 EPS for the current year.

Institutional Trading of Shinhan Financial Group

Several institutional investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its holdings in Shinhan Financial Group by 71.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock worth $26,000 after acquiring an additional 200 shares during the period. Kestra Advisory Services LLC acquired a new stake in Shinhan Financial Group in the 4th quarter valued at about $38,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 valued at $41,000 after purchasing an additional 850 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Shinhan Financial Group by 6,238.5% during the 4th 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. Finally, Bell Investment Advisors Inc grew its stake in shares of Shinhan Financial Group by 31.3% in the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock worth $46,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

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.