Shinhan Financial Group (NYSE:SHG) Announces Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Shinhan Financial Group (NYSE:SHG) issued its earnings results on Tuesday. The bank reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.11), Zacks reports. Shinhan Financial Group had a net margin of 15.69% and a return on equity of 8.63%.

Shinhan Financial Group Trading Down 1.2%

Shinhan Financial Group stock traded down $0.75 during mid-day trading on Tuesday, reaching $64.49. 237,474 shares of the company traded hands, compared to its average volume of 252,603. The firm’s 50 day moving average price is $77.41 and its 200 day moving average price is $68.24. Shinhan Financial Group has a 52-week low of $50.85 and a 52-week high of $85.57. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $30.27 billion, a price-to-earnings ratio of 8.68, a P/E/G ratio of 0.47 and a beta of 0.98.

Wall Street Analysts Forecast Growth

SHG has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Shinhan Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Zacks Research upgraded Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Shinhan Financial Group in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. is a South Korean financial holding company headquartered in Seoul. Established in 2001, the group operates through subsidiaries that provide a broad range of financial products and services to individuals, businesses and institutional customers.

Its principal businesses include commercial and retail banking through Shinhan Bank; credit card and payment services through Shinhan Card; securities brokerage, investment banking and wealth management through Shinhan Securities; and insurance, consumer finance, leasing and asset-management services through other group affiliates.

Shinhan serves customers primarily in South Korea and maintains an international presence across markets in Asia, North America and other regions.