Shinhan Financial Group (NYSE:SHG) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Shinhan Financial Group (NYSE:SHG) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other analysts have also recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a report on Friday, August 14th. Zacks Research upgraded shares of Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat, Shinhan Financial Group has an average rating of “Strong Buy”.

Shinhan Financial Group Trading Down 2.1%

NYSE SHG opened at $64.20 on Friday. The firm has a market capitalization of $30.14 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 0.46 and a beta of 0.98. The business’s 50-day moving average price is $76.32 and its two-hundred day moving average price is $68.57. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.45. Shinhan Financial Group has a 12 month low of $51.59 and a 12 month high of $85.57.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings data on Friday, August 14th. The bank reported $2.26 earnings per share (EPS) for the quarter. The company had revenue of $2.96 billion during the quarter. Shinhan Financial Group had a return on equity of 8.81% and a net margin of 15.68%. On average, analysts expect that Shinhan Financial Group will post 9.38 EPS for the current year.

Institutional Trading of Shinhan Financial Group

A number of large investors have recently bought and sold shares of the business. Sanders Capital LLC increased its stake in shares of Shinhan Financial Group by 2.1% in the 3rd quarter. Sanders Capital LLC now owns 122,426 shares of the bank’s stock valued at $9,509,000 after acquiring an additional 2,490 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Shinhan Financial Group during the 3rd quarter valued at $253,000. Ascent Group LLC boosted its stake in Shinhan Financial Group by 8.3% during the third quarter. Ascent Group LLC now owns 3,966 shares of the bank’s stock worth $308,000 after acquiring an additional 304 shares in the last quarter. Vise Technologies Inc. boosted its stake in Shinhan Financial Group by 35.3% during the third quarter. Vise Technologies Inc. now owns 50,225 shares of the bank’s stock worth $3,901,000 after acquiring an additional 13,107 shares in the last quarter. Finally, Canopy Partners LLC grew its holdings in Shinhan Financial Group by 10.9% in the third quarter. Canopy Partners LLC now owns 6,078 shares of the bank’s stock worth $472,000 after purchasing an additional 595 shares during the period. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Shinhan Financial Group Company Profile

Shinhan Financial Group Co, Ltd. is a South Korean financial holding company headquartered in Seoul. Established in 2001, the group operates through subsidiaries that provide a broad range of financial products and services to individuals, businesses and institutional customers.

Its principal businesses include commercial and retail banking through Shinhan Bank; credit card and payment services through Shinhan Card; securities brokerage, investment banking and wealth management through Shinhan Securities; and insurance, consumer finance, leasing and asset-management services through other group affiliates.

Shinhan serves customers primarily in South Korea and maintains an international presence across markets in Asia, North America and other regions.