Shinhan Financial Group (NYSE:SHG) Upgraded by StockNews.com to “Buy” Rating

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

Shinhan Financial Group Trading Up 2.1%

NYSE SHG opened at $38.05 on Monday. The business’s fifty day moving average is $33.76 and its 200 day moving average is $34.78. Shinhan Financial Group has a twelve month low of $28.76 and a twelve month high of $46.05. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.53. The company has a market cap 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 (NYSE:SHG) last issued its quarterly earnings results on Tuesday, March 4th. The bank reported $1.94 earnings per share (EPS) for the quarter. The firm had revenue of $2.82 billion for the quarter. Shinhan Financial Group had a net margin of 12.21% and a return on equity of 7.34%. As a group, sell-side analysts expect that Shinhan Financial Group will post 5.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Northern Trust Corp increased its position in Shinhan Financial Group by 3.9% in the first quarter. Northern Trust Corp now owns 1,501,208 shares of the bank’s stock worth $48,159,000 after buying an additional 56,088 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Shinhan Financial Group by 4.4% in the 4th quarter. Lazard Asset Management LLC now owns 1,353,820 shares of the bank’s stock worth $44,513,000 after acquiring an additional 57,640 shares during the last quarter. Pzena Investment Management LLC raised its stake in Shinhan Financial Group by 0.4% in the 1st quarter. Pzena Investment Management LLC now owns 1,078,696 shares of the bank’s stock valued at $34,605,000 after acquiring an additional 4,645 shares during the period. American Century Companies Inc. raised its stake in Shinhan Financial Group by 6.9% in the 1st quarter. American Century Companies Inc. now owns 840,232 shares of the bank’s stock valued at $26,955,000 after acquiring an additional 54,204 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Shinhan Financial Group by 10.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 617,210 shares of the bank’s stock valued at $19,800,000 after purchasing an additional 58,660 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company’s stock.

About Shinhan Financial Group

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.