Shinhan Financial Group (NYSE:SHG) Reaches New 12-Month High – Should You Buy?

Shinhan Financial Group Co Ltd (NYSE:SHG)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $85.57 and last traded at $84.4560, with a volume of 13504 shares trading hands. The stock had previously closed at $82.28.

Wall Street Analysts Forecast Growth

SHG has been the topic of several recent research reports. 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat, Shinhan Financial Group currently has a consensus rating of “Strong Buy”.

Shinhan Financial Group Stock Up 2.2%

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.45. The company has a fifty day simple moving average of $73.27 and a 200-day simple moving average of $67.85. The firm has a market cap of $39.48 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 0.62 and a beta of 0.96.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings data on Friday, August 14th. The bank reported $2.26 EPS for the quarter. Shinhan Financial Group had a return on equity of 8.63% and a net margin of 15.69%.The firm had revenue of $2.96 billion for the quarter. On average, equities analysts anticipate that Shinhan Financial Group Co Ltd will post 8.53 earnings per share for the current year.

Institutional Trading of Shinhan Financial Group

Several institutional investors and hedge funds have recently modified their holdings of SHG. Brown Brothers Harriman & Co. lifted its stake in shares of Shinhan Financial Group by 71.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Shinhan Financial Group in the fourth quarter valued at about $38,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 acquiring an additional 850 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of Shinhan Financial Group by 6,238.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock worth $44,000 after purchasing an additional 811 shares in the last quarter. Finally, Bell Investment Advisors Inc raised its stake in Shinhan Financial Group by 31.3% during the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock valued at $46,000 after purchasing an additional 178 shares during the period. 7.76% of the stock is currently owned by institutional investors.

Shinhan Financial Group Company Profile

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.