Shinhan Financial Group (NYSE:SHG) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Shinhan Financial Group (NYSE:SHG) from a strong-buy rating to a hold rating in a report released on Monday,Zacks.com reports.

Separately, Weiss Ratings downgraded shares of Shinhan Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Shinhan Financial Group Price Performance

Shinhan Financial Group stock traded up $0.40 during trading hours on Monday, hitting $67.30. The stock had a trading volume of 45,238 shares, compared to its average volume of 296,020. Shinhan Financial Group has a 1-year low of $35.24 and a 1-year high of $73.40. The stock has a market capitalization of $31.94 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 0.52 and a beta of 0.96. The stock’s fifty day moving average is $64.51 and its two-hundred day moving average is $58.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.00 and a quick ratio of 1.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SHG. Brown Brothers Harriman & Co. boosted its stake in shares of Shinhan Financial Group by 71.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Shinhan Financial Group in the fourth quarter valued at approximately $38,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Shinhan Financial Group by 1,465.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock valued at $41,000 after buying an additional 850 shares during the period. TD Private Client Wealth LLC purchased a new position in shares of Shinhan Financial Group during the third quarter valued at approximately $42,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Shinhan Financial Group by 6,238.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock worth $44,000 after acquiring an additional 811 shares during the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

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.