StockNews.com upgraded shares of Shinhan Financial Group (NYSE:SHG – Get Rating) from a buy rating to a strong-buy rating in a research note published on Thursday morning.
Shinhan Financial Group Trading Up 5.4 %
SHG stock opened at $32.21 on Thursday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.04 and a current ratio of 1.04. The company's 50-day simple moving average is $28.05 and its 200 day simple moving average is $26.94. Shinhan Financial Group has a 52 week low of $22.98 and a 52 week high of $34.92. The company has a market capitalization of $16.39 billion, a PE ratio of 4.65, a price-to-earnings-growth ratio of 0.42 and a beta of 0.81.
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Shinhan Financial Group (NYSE:SHG – Get Rating) last posted its quarterly earnings results on Monday, November 14th. The bank reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.15. Shinhan Financial Group had a net margin of 22.61% and a return on equity of 9.52%. The company had revenue of $2.98 billion for the quarter. As a group, sell-side analysts anticipate that Shinhan Financial Group will post 6.68 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in SHG. PNC Financial Services Group Inc. increased its stake in shares of Shinhan Financial Group by 3.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,791 shares of the bank's stock valued at $395,000 after acquiring an additional 349 shares in the last quarter. Janiczek Wealth Management LLC boosted its holdings in Shinhan Financial Group by 76.7% during the 2nd quarter. Janiczek Wealth Management LLC now owns 1,002 shares of the bank's stock worth $28,000 after acquiring an additional 435 shares during the last quarter. US Bancorp DE boosted its holdings in Shinhan Financial Group by 0.7% during the 2nd quarter. US Bancorp DE now owns 84,166 shares of the bank's stock worth $2,404,000 after acquiring an additional 620 shares during the last quarter. CWM LLC boosted its holdings in Shinhan Financial Group by 75.8% during the 3rd quarter. CWM LLC now owns 1,438 shares of the bank's stock worth $33,000 after acquiring an additional 620 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in Shinhan Financial Group by 24.5% during the 2nd quarter. Assetmark Inc. now owns 3,441 shares of the bank's stock worth $98,000 after acquiring an additional 678 shares during the last quarter. Institutional investors own 2.57% of the company's stock.
Shinhan Financial Group Company Profile
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Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Life Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.
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