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

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

Shinhan Financial Group Stock Performance

SHG stock traded up $0.33 during midday trading on Friday, reaching $75.15. The stock had a trading volume of 105,523 shares, compared to its average volume of 225,809. The firm has a fifty day simple moving average of $69.32 and a two-hundred day simple moving average of $66.21. Shinhan Financial Group has a 52-week low of $46.26 and a 52-week high of $77.54. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $35.28 billion, a PE ratio of 10.10, a P/E/G ratio of 0.56 and a beta of 0.94.

Analysts Set New Price Targets

SHG has been the topic of a number of analyst reports. Weiss Ratings raised shares of Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Zacks Research upgraded shares of Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Hedge Funds Weigh In On Shinhan Financial Group

Institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC boosted its holdings in shares of Shinhan Financial Group by 6.0% in the 4th quarter. Lazard Asset Management LLC now owns 1,671,184 shares of the bank’s stock valued at $89,626,000 after acquiring an additional 94,449 shares during the last quarter. Northern Trust Corp lifted its position in Shinhan Financial Group by 0.5% during the third 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. Bank of America Corp DE lifted its position in 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 valued at $34,556,000 after purchasing an additional 3,709 shares during the period. Millennium Management LLC boosted its holdings in 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 purchasing an additional 351,413 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Shinhan Financial Group by 57.9% in the first quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock valued at $10,376,000 after purchasing an additional 118,548 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.

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.