Shinhan Financial Group (NYSE:SHG) Hits New 12-Month High – Still a Buy?

Shinhan Financial Group Co Ltd (NYSE:SHG)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $56.50 and last traded at $56.37, with a volume of 34358 shares. The stock had previously closed at $55.64.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SHG shares. Zacks Research downgraded Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Shinhan Financial Group Price Performance

The company’s 50-day moving average price is $53.79 and its two-hundred day moving average price is $51.28. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $27.46 billion, a P/E ratio of 5.51, a price-to-earnings-growth ratio of 0.57 and a beta of 1.01.

Shinhan Financial Group (NYSE:SHG) last announced its earnings results on Friday, November 14th. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $1.97 by $0.08. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $3.79 billion. Shinhan Financial Group had a net margin of 22.38% and a return on equity of 12.45%. As a group, sell-side analysts expect that Shinhan Financial Group Co Ltd will post 5.97 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its position in shares of Shinhan Financial Group by 5.3% in the third quarter. Lazard Asset Management LLC now owns 1,576,735 shares of the bank’s stock valued at $79,420,000 after acquiring an additional 78,768 shares during the period. Northern Trust Corp boosted its holdings in Shinhan Financial Group by 0.5% in the 3rd quarter. Northern Trust Corp now owns 1,498,706 shares of the bank’s stock valued at $75,490,000 after purchasing an additional 7,518 shares during the period. American Century Companies Inc. grew its position in shares of Shinhan Financial Group by 11.3% during the 3rd quarter. American Century Companies Inc. now owns 1,089,798 shares of the bank’s stock worth $54,893,000 after purchasing an additional 110,787 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Shinhan Financial Group by 0.5% during the third quarter. Bank of America Corp DE now owns 686,044 shares of the bank’s stock worth $34,556,000 after purchasing an additional 3,709 shares during the period. Finally, Millennium Management LLC raised its position in shares of Shinhan Financial Group by 152.0% in the first quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock valued at $18,689,000 after buying an additional 351,413 shares in the last quarter. 7.76% of the stock is owned by institutional investors and hedge funds.

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.