Shinhan Financial Group (NYSE:SHG) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Shinhan Financial Group (NYSE:SHG) from a hold rating to a buy rating in a report published on Monday morning.

Shinhan Financial Group Stock Performance

NYSE SHG opened at $38.74 on Monday. Shinhan Financial Group has a fifty-two week low of $28.76 and a fifty-two week high of $46.05. The stock has a market cap of $19.50 billion, a price-to-earnings ratio of 6.08, a price-to-earnings-growth ratio of 0.44 and a beta of 0.84. The business has a fifty day moving average of $34.04 and a 200-day moving average of $34.83. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.53.

Shinhan Financial Group (NYSE:SHG) last released its earnings results on Tuesday, March 4th. The bank reported $1.94 EPS for the quarter. The firm had revenue of $2.82 billion during the quarter. Shinhan Financial Group had a return on equity of 7.34% and a net margin of 12.21%. As a group, analysts predict that Shinhan Financial Group will post 5.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shinhan Financial Group

Several institutional investors have recently added to or reduced their stakes in the business. Wayfinding Financial LLC purchased a new stake in Shinhan Financial Group during the first quarter valued at about $25,000. Cullen Frost Bankers Inc. purchased a new stake in Shinhan Financial Group during the first quarter valued at about $28,000. Sierra Ocean LLC purchased a new stake in Shinhan Financial Group during the fourth quarter valued at about $43,000. R Squared Ltd purchased a new stake in Shinhan Financial Group during the fourth quarter valued at about $76,000. Finally, Tower Research Capital LLC TRC grew its position in Shinhan Financial Group by 1,884.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank’s stock valued at $95,000 after acquiring an additional 2,751 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. 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.