Shinhan Financial Group (NYSE:SHG) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Shinhan Financial Group (NYSE:SHG) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

Separately, Wall Street Zen downgraded Shinhan Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Shinhan Financial Group has a consensus rating of “Hold”.

Shinhan Financial Group Stock Up 0.1%

SHG opened at $48.93 on Wednesday. The company has a market capitalization of $23.75 billion, a P/E ratio of 4.90, a P/E/G ratio of 0.53 and a beta of 0.96. The stock has a fifty day moving average of $48.83 and a 200-day moving average of $42.17. 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 1.48, a quick ratio of 1.03 and a current ratio of 1.03.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wayfinding Financial LLC bought a new position in Shinhan Financial Group in the first quarter valued at about $25,000. Cullen Frost Bankers Inc. bought a new position in Shinhan Financial Group in the first quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. grew its position in Shinhan Financial Group by 1,465.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock valued at $41,000 after acquiring an additional 850 shares during the last quarter. Westside Investment Management Inc. bought a new position in Shinhan Financial Group in the second quarter valued at about $47,000. Finally, Osaic Holdings Inc. grew its position in Shinhan Financial Group by 387.3% in the second quarter. Osaic Holdings Inc. now owns 1,306 shares of the bank’s stock valued at $59,000 after acquiring an additional 1,038 shares during the last quarter. 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.