Shinhan Financial Group (NYSE:SHG) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Shinhan Financial Group from “Buy” to “Hold,” although other firms remain positive and the stock’s consensus rating is “Strong Buy.”
• SHG opened at $65.56, with a market capitalization of $30.78 billion and a price-to-earnings ratio of 8.53; its shares have traded between $51.07 and $85.57 over the past year.
• Shinhan reported quarterly earnings of $2.26 per share on $2.96 billion in revenue, while institutional investors own 7.76% of the company and several funds recently increased their positions.

Shinhan Financial Group (NYSE:SHG - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

SHG has been the topic of a number of other reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Shinhan Financial Group in a research report on Friday, August 14th. Zacks Research upgraded shares of Shinhan Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, Shinhan Financial Group presently has an average rating of "Strong Buy".

Shinhan Financial Group Stock Down 0.5%

NYSE SHG opened at $65.56 on Friday. Shinhan Financial Group has a 1 year low of $51.07 and a 1 year high of $85.57. The stock has a market capitalization of $30.78 billion, a PE ratio of 8.53, a PEG ratio of 0.46 and a beta of 0.98. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.98 and a quick ratio of 0.98. The business's 50-day moving average is $76.53 and its 200 day moving average is $68.52.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The bank reported $2.26 EPS for the quarter. Shinhan Financial Group had a return on equity of 8.81% and a net margin of 15.68%. The business had revenue of $2.96 billion during the quarter. Sell-side analysts forecast that Shinhan Financial Group will post 9.38 earnings per share for the current year.

Institutional Trading of Shinhan Financial Group

Several institutional investors have recently made changes to their positions in the business. Mather Group LLC. increased its holdings in Shinhan Financial Group by 1,389.1% during the 3rd quarter. Mather Group LLC. now owns 819 shares of the bank's stock worth $64,000 after purchasing an additional 764 shares during the period. WealthCollab LLC lifted its holdings in shares of Shinhan Financial Group by 19.2% in the 1st quarter. WealthCollab LLC now owns 1,635 shares of the bank's stock worth $100,000 after buying an additional 263 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of Shinhan Financial Group by 273.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,657 shares of the bank's stock worth $143,000 after buying an additional 1,946 shares in the last quarter. Allworth Financial LP grew its position in shares of Shinhan Financial Group by 19.7% during the 2nd quarter. Allworth Financial LP now owns 3,049 shares of the bank's stock worth $193,000 after buying an additional 501 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Shinhan Financial Group during the second quarter valued at $196,000. Hedge funds and other institutional investors own 7.76% of the company's stock.

About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. is a South Korean financial holding company headquartered in Seoul. Established in 2001, the group operates through subsidiaries that provide a broad range of financial products and services to individuals, businesses and institutional customers.

Its principal businesses include commercial and retail banking through Shinhan Bank; credit card and payment services through Shinhan Card; securities brokerage, investment banking and wealth management through Shinhan Securities; and insurance, consumer finance, leasing and asset-management services through other group affiliates.

Shinhan serves customers primarily in South Korea and maintains an international presence across markets in Asia, North America and other regions.

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