Shinhan Financial Group (NYSE:SHG) Raised to Strong-Buy at Zacks Research

Shinhan Financial Group (NYSE:SHG) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Shinhan Financial Group Stock Performance

NYSE:SHG opened at $74.60 on Monday. The firm has a market capitalization of $35.02 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.55 and a beta of 0.98. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.98 and a quick ratio of 0.98. The business’s fifty day moving average price is $78.30 and its 200 day moving average price is $70.75. Shinhan Financial Group has a 12 month low of $47.05 and a 12 month high of $85.57.

Shinhan Financial Group (NYSE:SHG) last announced its quarterly earnings results on Friday, August 14th. The bank reported $2.26 earnings per share (EPS) for the quarter. Shinhan Financial Group had a return on equity of 8.63% and a net margin of 15.69%. The firm had revenue of $2.96 billion during the quarter. On average, sell-side analysts anticipate that Shinhan Financial Group will post 8.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SHG. Plan A Wealth LLC boosted its position in Shinhan Financial Group by 1.0% during the third quarter. Plan A Wealth LLC now owns 15,465 shares of the bank’s stock valued at $1,201,000 after purchasing an additional 160 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in shares of Shinhan Financial Group by 31.3% in the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock valued at $46,000 after purchasing an additional 178 shares during the period. Bessemer Group Inc. lifted its stake in Shinhan Financial Group by 3.3% in the 1st quarter. Bessemer Group Inc. now owns 5,744 shares of the bank’s stock valued at $352,000 after purchasing an additional 183 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Shinhan Financial Group by 4.1% in the third quarter. Farther Finance Advisors LLC now owns 5,562 shares of the bank’s stock valued at $432,000 after buying an additional 218 shares during the period. Finally, Valeo Financial Advisors LLC raised its stake in Shinhan Financial Group by 7.0% in the third quarter. Valeo Financial Advisors LLC now owns 3,600 shares of the bank’s stock valued at $280,000 after buying an additional 235 shares during the period. 7.76% of the stock is owned by hedge funds and other institutional investors.

About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. is a South Korean financial holding company that provides a broad range of financial services through its subsidiaries. Its businesses include commercial and retail banking, credit cards, securities and investment banking, insurance, asset management, consumer finance, and other related financial services.

The group’s principal banking subsidiary is Shinhan Bank, which serves individual, corporate, and institutional customers with deposit accounts, loans, payment services, foreign exchange, wealth management, and digital banking products.