Shinhan Financial Group (NYSE:SHG) Reaches New 12-Month High – Still a Buy?

Shinhan Financial Group Co Ltd (NYSE:SHG) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $85.57 and last traded at $84.4560, with a volume of 13504 shares changing hands. The stock had previously closed at $82.28.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SHG shares. Zacks Research upgraded shares of Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Friday, August 14th. 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 company currently has a consensus rating of “Strong Buy”.

Shinhan Financial Group Price Performance

The company’s 50 day moving average price is $74.06 and its 200-day moving average price is $68.03. The company has a market capitalization of $38.35 billion, a PE ratio of 10.98, a PEG ratio of 0.63 and a beta of 0.96. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.45.

Shinhan Financial Group (NYSE:SHG) last posted its earnings results on Friday, August 14th. The bank reported $2.26 earnings per share for the quarter. Shinhan Financial Group had a net margin of 15.69% and a return on equity of 8.63%. The business had revenue of $2.96 billion for the quarter. On average, sell-side analysts forecast that Shinhan Financial Group Co Ltd will post 8.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shinhan Financial Group

A number of institutional investors have recently modified their holdings of the stock. Bell Investment Advisors Inc lifted its holdings in 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 last quarter. Bessemer Group Inc. increased its holdings in shares of Shinhan Financial Group by 3.3% in the 1st quarter. Bessemer Group Inc. now owns 5,744 shares of the bank’s stock worth $352,000 after acquiring an additional 183 shares during the period. Allworth Financial LP increased its stake in shares of Shinhan Financial Group by 12.5% in the fourth quarter. Allworth Financial LP now owns 1,703 shares of the bank’s stock valued at $91,000 after purchasing an additional 189 shares during the period. Brown Brothers Harriman & Co. boosted its position in Shinhan Financial Group by 71.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock worth $26,000 after acquiring an additional 200 shares during the period. Finally, Stifel Financial Corp lifted its holdings in Shinhan Financial Group by 2.4% in the fourth quarter. Stifel Financial Corp now owns 10,603 shares of the bank’s stock worth $569,000 after purchasing an additional 248 shares during the period. Institutional investors and hedge funds own 7.76% of the company’s stock.

About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. is a South Korean financial holding company headquartered in Seoul. Through its subsidiaries, the group provides a broad range of financial services, including retail and corporate banking, credit cards, securities brokerage and investment banking, asset management, life insurance, consumer finance and other specialized financial services.

Its principal banking operations are conducted through Shinhan Bank, while other major businesses include Shinhan Card, Shinhan Securities, Shinhan Life Insurance and Shinhan Asset Management.