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

Shinhan Financial Group Co Ltd (NYSE:SHG) reached a new 52-week high during trading on Wednesday . The stock traded as high as $77.92 and last traded at $77.6160, with a volume of 5466 shares trading hands. The stock had previously closed at $76.81.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SHG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Friday, August 14th. Zacks Research raised shares of Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Strong Buy”.

Shinhan Financial Group Stock Performance

The company has a market capitalization of $36.35 billion, a price-to-earnings ratio of 10.41, a P/E/G ratio of 0.57 and a beta of 0.94. The stock’s 50 day moving average price is $70.40 and its 200 day moving average price is $67.01. The company has a current ratio of 0.98, a quick ratio of 1.00 and a debt-to-equity ratio of 1.45.

Shinhan Financial Group (NYSE:SHG) last released its earnings results on Friday, August 14th. The bank reported $2.26 earnings per share (EPS) for the quarter. The business had revenue of $2.96 billion for the quarter. Shinhan Financial Group had a return on equity of 8.63% and a net margin of 15.69%. Analysts expect that Shinhan Financial Group Co Ltd will post 8.53 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in shares of Shinhan Financial Group by 9.1% during the 1st quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock worth $4,049,000 after purchasing an additional 10,534 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Shinhan Financial Group in the first quarter valued at $210,000. Millennium Management LLC increased its holdings in Shinhan Financial Group by 152.0% during the first quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock worth $18,689,000 after buying an additional 351,413 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Shinhan Financial Group by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock worth $10,376,000 after buying an additional 118,548 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in 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 worth $41,000 after buying an additional 850 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors.

Shinhan Financial Group Company Profile

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.