Shinhan Financial Group (NYSE:SHG) Upgraded to “Hold” at Zacks Research

Shinhan Financial Group (NYSE:SHG) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Shinhan Financial Group currently has an average rating of “Moderate Buy”.

Shinhan Financial Group Stock Up 3.1%

NYSE:SHG opened at $60.35 on Monday. Shinhan Financial Group has a twelve month low of $28.76 and a twelve month high of $61.73. The firm has a market capitalization of $29.30 billion, a price-to-earnings ratio of 5.88, a price-to-earnings-growth ratio of 0.62 and a beta of 1.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.51. The stock’s 50 day moving average price is $54.84 and its two-hundred day moving average price is $51.92.

Shinhan Financial Group (NYSE:SHG) last released its earnings results on Friday, November 14th. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.08. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Shinhan Financial Group had a net margin of 22.38% and a return on equity of 12.45%. Equities research analysts expect that Shinhan Financial Group will post 5.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shinhan Financial Group

Large investors have recently modified their holdings of the stock. Millennium Management LLC grew its position in shares of Shinhan Financial Group by 152.0% during the 1st quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock worth $18,689,000 after purchasing an additional 351,413 shares in the last quarter. American Century Companies Inc. raised its position in shares of Shinhan Financial Group by 16.5% in the second quarter. American Century Companies Inc. now owns 979,011 shares of the bank’s stock valued at $44,232,000 after buying an additional 138,779 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Shinhan Financial Group by 57.9% in the first quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock valued at $10,376,000 after buying an additional 118,548 shares during the period. Arbiter Partners Capital Management LLC grew its position in Shinhan Financial Group by 246.4% during the third quarter. Arbiter Partners Capital Management LLC now owns 137,169 shares of the bank’s stock worth $6,909,000 after buying an additional 97,569 shares in the last quarter. Finally, Virtus Family Office LLC bought a new position in Shinhan Financial Group during the 3rd quarter worth $4,507,000. 7.76% of the stock is owned by institutional investors.

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.