Shinhan Financial Group (NYSE:SHG) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Shinhan Financial Group (NYSE:SHG) from a buy rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

Other research analysts also recently issued reports about the company. Zacks Research upgraded Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Strong Buy”.

Shinhan Financial Group Stock Performance

Shares of SHG stock opened at $65.56 on Friday. The stock has a fifty day moving average price of $76.53 and a 200 day moving average price of $68.52. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market cap of $30.78 billion, a PE ratio of 8.49, a P/E/G ratio of 0.46 and a beta of 0.98. Shinhan Financial Group has a 1 year low of $51.07 and a 1 year high of $85.57.

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 return on equity of 8.81% and a net margin of 15.68%. The company had revenue of $2.96 billion for the quarter. Sell-side analysts forecast that Shinhan Financial Group will post 9.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shinhan Financial Group

Institutional investors and hedge funds have recently modified their holdings of the company. Nykredit A S acquired a new stake in shares of Shinhan Financial Group in the second quarter valued at about $5,326,000. First Trust Advisors LP grew its stake in Shinhan Financial Group by 107.5% during the 1st quarter. First Trust Advisors LP now owns 34,286 shares of the bank’s stock valued at $2,102,000 after purchasing an additional 17,759 shares in the last quarter. Corient Private Wealth LP increased its holdings in Shinhan Financial Group by 46.4% during the 2nd quarter. Corient Private Wealth LP now owns 38,537 shares of the bank’s stock worth $2,437,000 after purchasing an additional 12,212 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Shinhan Financial Group by 40.5% during the 1st quarter. Quantinno Capital Management LP now owns 173,250 shares of the bank’s stock worth $10,624,000 after purchasing an additional 49,966 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Shinhan Financial Group by 17.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 44,560 shares of the bank’s stock worth $2,818,000 after purchasing an additional 6,558 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Company Profile

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.