Shinhan Financial Group (NYSE:SHG) Stock Rating Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Shinhan Financial Group to “buy” from “hold,” joining other positive analyst views. MarketBeat data shows the stock has an average “Strong Buy” rating.
• Shinhan reported quarterly earnings of $2.26 per share on $2.96 billion in revenue, with a 15.69% net margin and 8.63% return on equity; analysts expect full-year EPS of $9.22.
• The stock opened at $70.36, with a $33.03 billion market capitalization and a 12-month trading range of $50.85 to $85.57. Institutional investors own 7.76% of the company.

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

Other equities analysts also recently issued reports about the company. Weiss Ratings restated a "buy (b)" rating on shares of Shinhan Financial Group in a report on Friday, August 14th. Zacks Research upgraded Shinhan Financial Group from a "hold" rating to a "strong-buy" rating in a 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, the company currently has an average rating of "Strong Buy".

Shinhan Financial Group Price Performance

Shinhan Financial Group stock opened at $70.36 on Friday. The stock has a market capitalization of $33.03 billion, a P/E ratio of 9.59, a P/E/G ratio of 0.50 and a beta of 0.98. Shinhan Financial Group has a 12-month low of $50.85 and a 12-month high of $85.57. 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 firm's 50-day moving average is $78.10 and its two-hundred day moving average is $70.89.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The bank reported $2.26 earnings per share for the quarter. Shinhan Financial Group had a net margin of 15.69% and a return on equity of 8.63%. The business had revenue of $2.96 billion during the quarter. Equities analysts predict that Shinhan Financial Group will post 9.22 earnings per share for the current year.

Hedge Funds Weigh In On Shinhan Financial Group

Several large investors have recently added to or reduced their stakes in the company. Bell Investment Advisors Inc lifted its holdings in shares of Shinhan Financial Group by 31.3% in the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank's stock worth $46,000 after purchasing an additional 178 shares during the last quarter. Mather Group LLC. grew its stake 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 buying an additional 764 shares during the last quarter. WealthCollab LLC grew its stake in Shinhan Financial Group by 19.2% during 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 last quarter. Rockefeller Capital Management L.P. increased its position in Shinhan Financial Group by 273.7% in the fourth 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 during the period. Finally, Allworth Financial LP lifted its stake in Shinhan Financial Group by 19.7% in the second quarter. Allworth Financial LP now owns 3,049 shares of the bank's stock valued at $193,000 after buying an additional 501 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors.

About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. is a South Korean financial holding company that provides a broad range of financial services through its subsidiaries. Its businesses include commercial and retail banking, credit cards, securities and investment banking, insurance, asset management, consumer finance, and other related financial services.

The group's principal banking subsidiary is Shinhan Bank, which serves individual, corporate, and institutional customers with deposit accounts, loans, payment services, foreign exchange, wealth management, and digital banking products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.