Shinhan Financial Group (NYSE:SHG) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of Shinhan Financial Group (NYSE:SHG) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

Shinhan Financial Group Stock Down 0.1 %

Shinhan Financial Group stock opened at $28.47 on Monday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.02 and a current ratio of 1.02. Shinhan Financial Group has a 52-week low of $22.98 and a 52-week high of $36.64. The firm has a 50 day moving average price of $26.78 and a two-hundred day moving average price of $26.74. The firm has a market cap of $14.76 billion, a price-to-earnings ratio of 4.49, a PEG ratio of 1.27 and a beta of 0.84.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings data on Monday, August 14th. The bank reported $1.75 earnings per share (EPS) for the quarter. The firm had revenue of $3.15 billion for the quarter. Shinhan Financial Group had a net margin of 15.90% and a return on equity of 8.61%. Equities analysts predict that Shinhan Financial Group will post 6.77 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SHG. Raymond James & Associates purchased a new position in shares of Shinhan Financial Group during the first quarter worth about $488,000. HighTower Advisors LLC purchased a new position in shares of Shinhan Financial Group during the first quarter worth about $202,000. Citigroup Inc. grew its holdings in shares of Shinhan Financial Group by 522.0% during the first quarter. Citigroup Inc. now owns 85,333 shares of the bank’s stock worth $2,854,000 after purchasing an additional 71,614 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Shinhan Financial Group by 3.1% during the first quarter. PNC Financial Services Group Inc. now owns 11,791 shares of the bank’s stock worth $395,000 after purchasing an additional 349 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Shinhan Financial Group by 1.8% during the first quarter. BlackRock Inc. now owns 1,825,885 shares of the bank’s stock worth $61,038,000 after purchasing an additional 32,458 shares in the last quarter. Hedge funds and other institutional investors own 2.81% of the company’s stock.

Shinhan Financial Group Company Profile

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Life Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.