Shinhan Financial Group (NYSE:SHG) Hits New 1-Year High – Here’s What Happened

Shinhan Financial Group Co Ltd (NYSE:SHG)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $73.66 and last traded at $73.55, with a volume of 15916 shares changing hands. The stock had previously closed at $70.58.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SHG. Zacks Research lowered Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings upgraded shares of Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Shinhan Financial Group has an average rating of “Moderate Buy”.

Shinhan Financial Group Price Performance

The company has a debt-to-equity ratio of 1.43, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $34.79 billion, a P/E ratio of 7.98, a P/E/G ratio of 0.58 and a beta of 0.94. The firm has a fifty day moving average of $65.79 and a two-hundred day moving average of $63.07.

Shinhan Financial Group (NYSE:SHG) last released its quarterly earnings data on Tuesday, March 31st. The bank reported $1.98 earnings per share (EPS) for the quarter. Shinhan Financial Group had a net margin of 20.07% and a return on equity of 10.97%. On average, analysts predict that Shinhan Financial Group Co Ltd will post 7.98 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. increased its stake in Shinhan Financial Group by 71.2% during the 4th 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 acquired a new stake in Shinhan Financial Group during the fourth quarter worth about $38,000. Northwestern Mutual Wealth Management Co. increased its holdings 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 valued at $41,000 after purchasing an additional 850 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Shinhan Financial Group by 6,238.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock valued at $44,000 after buying an additional 811 shares in the last quarter. Finally, Bell Investment Advisors Inc raised its holdings in Shinhan Financial Group by 31.3% in the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock worth $46,000 after purchasing an additional 178 shares during the period. 7.76% of the stock is owned by institutional investors and hedge funds.

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.