Bank of America Corp DE Has $21.92 Million Position in Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Bank of America Corp DE boosted its position in Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 666,640 shares of the bank’s stock after buying an additional 925 shares during the quarter. Bank of America Corp DE owned approximately 0.13% of Shinhan Financial Group worth $21,919,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHG. Aaron Wealth Advisors LLC raised its position in Shinhan Financial Group by 3.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,627 shares of the bank’s stock valued at $251,000 after buying an additional 289 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Shinhan Financial Group in the 4th quarter valued at approximately $333,000. Blue Trust Inc. raised its position in Shinhan Financial Group by 33.8% in the 4th quarter. Blue Trust Inc. now owns 72,898 shares of the bank’s stock valued at $2,397,000 after buying an additional 18,402 shares during the last quarter. R Squared Ltd acquired a new stake in Shinhan Financial Group in the 4th quarter valued at approximately $76,000. Finally, Yousif Capital Management LLC raised its position in Shinhan Financial Group by 514.6% in the 4th quarter. Yousif Capital Management LLC now owns 47,176 shares of the bank’s stock valued at $1,551,000 after buying an additional 39,500 shares during the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Shinhan Financial Group from a “hold” rating to a “buy” rating in a research report on Monday.

Shinhan Financial Group Stock Up 2.1%

NYSE:SHG opened at $38.05 on Tuesday. The firm has a market capitalization of $19.16 billion, a price-to-earnings ratio of 5.97, a price-to-earnings-growth ratio of 0.44 and a beta of 0.84. Shinhan Financial Group Co., Ltd. has a twelve month low of $28.76 and a twelve month high of $46.05. The stock’s 50 day moving average price is $33.76 and its two-hundred day moving average price is $34.78. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.53.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings results on Tuesday, March 4th. The bank reported $1.94 earnings per share for the quarter. The firm had revenue of $2.82 billion for the quarter. Shinhan Financial Group had a return on equity of 7.34% and a net margin of 12.21%. Equities research analysts expect that Shinhan Financial Group Co., Ltd. will post 5.97 earnings per share for the current fiscal year.

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, 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.