Shinhan Financial Group (NYSE:SHG) Posts Quarterly Earnings Results

Shinhan Financial Group (NYSE:SHG) issued its quarterly earnings results on Friday. The bank reported $2.26 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $2.96 billion for the quarter. Shinhan Financial Group had a return on equity of 8.69% and a net margin of 15.69%.

Shinhan Financial Group Stock Performance

SHG stock opened at $75.15 on Friday. The business’s fifty day moving average is $69.32 and its 200-day moving average is $66.21. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.43. The company has a market cap of $35.28 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.57 and a beta of 0.94. Shinhan Financial Group has a twelve month low of $46.26 and a twelve month high of $77.54.

Wall Street Analyst Weigh In

Several analysts have weighed in on SHG shares. Weiss Ratings raised Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Zacks Research raised shares of Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, Shinhan Financial Group has an average rating of “Strong Buy”.

Institutional Investors Weigh In On Shinhan Financial Group

Institutional investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. lifted its stake 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 buying an additional 200 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Shinhan Financial Group during the 4th quarter worth about $38,000. Bell Investment Advisors Inc grew its position in shares of Shinhan Financial Group by 31.3% during the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock worth $46,000 after buying an additional 178 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Shinhan Financial Group by 6,238.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock valued at $44,000 after acquiring an additional 811 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Shinhan Financial Group by 1,465.5% in the 2nd 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. 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.