Shinhan Financial Group (NYSE:SHG) Sets New 1-Year High – Should You Buy?

Shinhan Financial Group Co Ltd (NYSE:SHG)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $56.14 and last traded at $55.9420, with a volume of 106354 shares trading hands. The stock had previously closed at $54.02.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Monday, December 29th. Zacks Research cut Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 2nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Shinhan Financial Group Stock Performance

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.51. The stock’s 50-day simple moving average is $53.49 and its 200-day simple moving average is $50.47. The stock has a market cap of $27.28 billion, a price-to-earnings ratio of 5.47, a price-to-earnings-growth ratio of 0.57 and a beta of 1.01.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings results on Friday, November 14th. The bank reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.08. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $3.79 billion. Shinhan Financial Group had a return on equity of 12.45% and a net margin of 22.38%. Analysts forecast that Shinhan Financial Group Co Ltd will post 5.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shinhan Financial Group

Large investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of Shinhan Financial Group by 9.1% in the 1st quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock valued at $4,049,000 after buying an additional 10,534 shares in the last quarter. AQR Capital Management LLC bought a new stake in Shinhan Financial Group during the first quarter worth $210,000. Millennium Management LLC boosted its holdings in shares of Shinhan Financial Group by 152.0% in the 1st quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock valued at $18,689,000 after purchasing an additional 351,413 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Shinhan Financial Group by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock valued at $10,376,000 after purchasing an additional 118,548 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Shinhan Financial Group during the 1st quarter worth $613,000. 7.76% of the stock is currently 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.