Shinhan Financial Group (NYSE:SHG) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Shinhan Financial Group (NYSE:SHG) announced its quarterly earnings data on Friday. The bank reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.06), Zacks reports. Shinhan Financial Group had a net margin of 19.89% and a return on equity of 10.87%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.84 billion.

Shinhan Financial Group Stock Down 1.8%

SHG traded down $1.16 during trading on Friday, reaching $64.21. The company had a trading volume of 172,290 shares, compared to its average volume of 226,640. The company has a market cap of $30.48 billion, a P/E ratio of 7.13, a PEG ratio of 0.51 and a beta of 0.97. Shinhan Financial Group has a 12 month low of $37.13 and a 12 month high of $73.40. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.00 and a quick ratio of 1.00. The business’s fifty day moving average price is $64.18 and its 200 day moving average price is $59.70.

Institutional Investors Weigh In On Shinhan Financial Group

Institutional investors have recently added to or reduced their stakes in the stock. Compound Planning Inc. boosted its position in shares of Shinhan Financial Group by 5.8% during the fourth quarter. Compound Planning Inc. now owns 16,281 shares of the bank’s stock worth $873,000 after buying an additional 892 shares during the period. Corient Private Wealth LLC raised its position in Shinhan Financial Group by 8.1% in the 4th quarter. Corient Private Wealth LLC now owns 22,909 shares of the bank’s stock valued at $1,229,000 after buying an additional 1,726 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Shinhan Financial Group by 5.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,516 shares of the bank’s stock valued at $457,000 after acquiring an additional 418 shares in the last quarter. XTX Topco Ltd bought a new stake in Shinhan Financial Group in the 4th quarter valued at approximately $376,000. Finally, Millennium Management LLC boosted its position in Shinhan Financial Group by 107.8% during the 4th quarter. Millennium Management LLC now owns 203,703 shares of the bank’s stock worth $10,925,000 after acquiring an additional 105,677 shares during the last quarter. 7.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SHG has been the subject of a number of recent analyst reports. Zacks Research downgraded Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings downgraded shares of Shinhan Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Shinhan Financial Group currently has a consensus rating of “Moderate Buy”.

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.