Shinhan Financial Group (NYSE:SHG) Issues Quarterly Earnings Results

Shinhan Financial Group (NYSE:SHG) issued its quarterly earnings data on Friday. The bank reported $2.26 earnings per share for the quarter, FiscalAI reports. The business had revenue of $2.96 billion for the quarter. Shinhan Financial Group had a return on equity of 8.69% and a net margin of 15.69%.

Shinhan Financial Group Stock Performance

Shares of NYSE:SHG traded up $0.33 during midday trading on Friday, reaching $75.15. 105,523 shares of the company traded hands, compared to its average volume of 225,809. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $35.28 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 0.56 and a beta of 0.94. Shinhan Financial Group has a 12 month low of $46.26 and a 12 month high of $77.54. The firm’s fifty day moving average price is $69.32 and its two-hundred day moving average price is $66.21.

Institutional Investors Weigh In On Shinhan Financial Group

Institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP lifted its position in Shinhan Financial Group by 107.5% during the first quarter. First Trust Advisors LP now owns 34,286 shares of the bank’s stock valued at $2,102,000 after purchasing an additional 17,759 shares during the last quarter. Quantinno Capital Management LP raised its position in Shinhan Financial Group by 40.5% during the first quarter. Quantinno Capital Management LP now owns 173,250 shares of the bank’s stock valued at $10,624,000 after purchasing an additional 49,966 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Shinhan Financial Group in the 4th quarter worth about $393,000. UBS Group AG raised its holdings in shares of Shinhan Financial Group by 129.1% during the 4th quarter. UBS Group AG now owns 151,613 shares of the bank’s stock valued at $8,131,000 after buying an additional 85,446 shares in the last quarter. Finally, Abacus Wealth Partners LLC purchased a new stake in shares of Shinhan Financial Group in the 4th quarter valued at $1,029,000. Hedge funds and other institutional investors own 7.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on SHG. Weiss Ratings upgraded shares of Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Zacks Research raised Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

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.