Shinhan Financial Group (NYSE:SHG) Upgraded at Zacks Research

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

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Strong Buy”.

Shinhan Financial Group Stock Down 1.8%

Shares of SHG stock opened at $59.79 on Thursday. The company has a market capitalization of $29.03 billion, a price-to-earnings ratio of 6.64, a PEG ratio of 0.48 and a beta of 0.97. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.03 and a current ratio of 1.00. The stock’s 50 day simple moving average is $60.88 and its 200 day simple moving average is $54.70. Shinhan Financial Group has a twelve month low of $28.76 and a twelve month high of $73.40.

Institutional Trading of Shinhan Financial Group

A number of institutional investors have recently made changes to their positions in SHG. Brown Brothers Harriman & Co. grew its position in Shinhan Financial Group by 71.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Shinhan Financial Group during the 4th quarter worth about $38,000. Caitong International Asset Management Co. Ltd lifted its position in Shinhan Financial Group by 6,238.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock worth $44,000 after buying an additional 811 shares in the last quarter. TD Private Client Wealth LLC acquired a new position in shares of Shinhan Financial Group during the 3rd quarter worth about $42,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Shinhan Financial Group by 1,465.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after buying an additional 850 shares during the last quarter. Institutional investors own 7.76% of the company’s stock.

About Shinhan Financial Group

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company’s principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.