Shinhan Financial Group (NYSE:SHG) Raised to “Buy” at Wall Street Zen

Shinhan Financial Group (NYSE:SHG) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Shinhan Financial Group Trading Down 3.1%

SHG opened at $47.17 on Friday. The company’s 50 day moving average price is $45.78 and its two-hundred day moving average price is $38.07. The firm has a market capitalization of $22.90 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 0.52 and a beta of 0.92. Shinhan Financial Group has a fifty-two week low of $28.76 and a fifty-two week high of $52.00. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.04 and a quick ratio of 1.04.

Hedge Funds Weigh In On Shinhan Financial Group

A number of hedge funds have recently made changes to their positions in SHG. Wayfinding Financial LLC bought a new stake in Shinhan Financial Group in the first quarter valued at approximately $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Shinhan Financial Group in the 1st quarter worth approximately $28,000. Farther Finance Advisors LLC boosted its stake in shares of Shinhan Financial Group by 240.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,908 shares of the bank’s stock valued at $86,000 after purchasing an additional 1,348 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Shinhan Financial Group by 1,884.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank’s stock valued at $95,000 after purchasing an additional 2,751 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Shinhan Financial Group during the fourth quarter worth $125,000. 7.76% of the stock is currently owned by institutional investors.

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.