Dynamic Technology Lab Private Ltd Purchases New Shares in Shinhan Financial Group Co Ltd $SHG

Dynamic Technology Lab Private Ltd acquired a new stake in Shinhan Financial Group Co Ltd (NYSE:SHG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 26,454 shares of the bank’s stock, valued at approximately $1,195,000.

Several other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of Shinhan Financial Group by 8.2% in the 1st quarter. Bank of New York Mellon Corp now owns 8,994 shares of the bank’s stock valued at $289,000 after purchasing an additional 682 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Shinhan Financial Group by 22.0% in the first quarter. Envestnet Asset Management Inc. now owns 197,709 shares of the bank’s stock valued at $6,343,000 after purchasing an additional 35,682 shares during the period. HB Wealth Management LLC purchased a new stake in shares of Shinhan Financial Group in the first quarter valued at approximately $203,000. Ramirez Asset Management Inc. raised its stake in shares of Shinhan Financial Group by 11.2% during the 1st quarter. Ramirez Asset Management Inc. now owns 215,892 shares of the bank’s stock worth $6,926,000 after buying an additional 21,727 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Shinhan Financial Group during the 1st quarter valued at approximately $227,000. 7.76% of the stock is owned by hedge funds and other institutional investors.

Shinhan Financial Group Price Performance

SHG stock opened at $51.66 on Friday. Shinhan Financial Group Co Ltd has a 1 year low of $28.76 and a 1 year high of $56.00. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $25.08 billion, a PE ratio of 5.18, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00. The business has a 50 day simple moving average of $51.47 and a 200-day simple moving average of $47.42.

Shinhan Financial Group (NYSE:SHG) last released its quarterly earnings data on Friday, November 14th. The bank reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.08. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $3.79 billion. Shinhan Financial Group had a return on equity of 12.27% and a net margin of 21.21%. Equities research analysts anticipate that Shinhan Financial Group Co Ltd will post 5.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SHG. Wall Street Zen lowered shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Zacks Research lowered shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Shinhan Financial Group Profile

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, 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.