Shinhan Financial Group (NYSE:SHG) Hits New 52-Week High – Here’s What Happened

Shinhan Financial Group Co Ltd (NYSE:SHG) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $53.57 and last traded at $53.3550, with a volume of 62340 shares. The stock had previously closed at $52.42.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SHG shares. Wall Street Zen lowered Shinhan Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Thursday, October 30th. Finally, Zacks Research cut shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Shinhan Financial Group Stock Performance

The stock’s 50 day moving average price is $49.87 and its 200 day moving average price is $45.88. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $25.78 billion, a price-to-earnings ratio of 5.32, a P/E/G ratio of 0.56 and a beta of 0.94.

Hedge Funds Weigh In On Shinhan Financial Group

A number of institutional investors have recently modified their holdings of the business. Wayfinding Financial LLC acquired a new position in Shinhan Financial Group in the 1st quarter worth about $25,000. TD Private Client Wealth LLC bought a new stake in Shinhan Financial Group in the third quarter worth approximately $42,000. Cullen Frost Bankers Inc. acquired a new stake in Shinhan Financial Group in the first quarter worth $28,000. Northwestern Mutual Wealth Management Co. grew its holdings in Shinhan Financial Group by 1,465.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after purchasing an additional 850 shares during the period. Finally, Westside Investment Management Inc. acquired a new stake in Shinhan Financial Group in the second quarter worth $47,000. Institutional investors and hedge funds own 7.76% of the company’s stock.

About Shinhan Financial Group

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.