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

Zacks Research upgraded shares of Shinhan Financial Group (NYSE:SHG) from a strong sell rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Shinhan Financial Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Trading Up 0.2%

NYSE:SHG opened at $60.54 on Monday. The stock has a market cap of $29.39 billion, a price-to-earnings ratio of 5.89, a price-to-earnings-growth ratio of 0.64 and a beta of 1.00. Shinhan Financial Group has a one year low of $28.76 and a one year high of $61.93. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.03 and a current ratio of 1.03. The business’s 50-day simple moving average is $54.96 and its 200 day simple moving average is $51.98.

Shinhan Financial Group (NYSE:SHG) last announced its earnings results on Friday, November 14th. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.08. Shinhan Financial Group had a return on equity of 12.45% and a net margin of 22.38%.The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $3.79 billion. As a group, sell-side analysts predict that Shinhan Financial Group will post 5.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shinhan Financial Group

A number of large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its position 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 purchasing an additional 850 shares during the period. TD Private Client Wealth LLC bought a new position in Shinhan Financial Group during the 3rd quarter worth $42,000. Westside Investment Management Inc. bought a new position in Shinhan Financial Group during the 2nd quarter worth $47,000. Osaic Holdings Inc. lifted its stake 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 buying an additional 1,038 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Shinhan Financial Group by 3,831.3% in the third quarter. Smartleaf Asset Management LLC now owns 1,887 shares of the bank’s stock valued at $95,000 after buying an additional 1,839 shares during the last quarter. Institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Company Profile

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.