Shinhan Financial Group (NYSE:SHG) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Shinhan Financial Group from “hold” to “strong buy,” while Weiss Ratings maintained a “buy” rating; the stock has an overall “Strong Buy” consensus rating.
• SHG opened at $74.60, with a $35.02 billion market capitalization and a 52-week range of $47.05 to $85.57. The bank reported quarterly EPS of $2.26 on $2.96 billion in revenue, with analysts forecasting $8.86 in full-year EPS.
• Institutional investors increased their positions in the company, and hedge funds and other institutions collectively own 7.76% of Shinhan Financial Group’s shares.

Shinhan Financial Group (NYSE:SHG - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday, Zacks reports.

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Shinhan Financial Group in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Strong Buy".

Shinhan Financial Group Price Performance

Shares of SHG stock opened at $74.60 on Monday. The company has a market cap of $35.02 billion, a P/E ratio of 10.11, a PEG ratio of 0.55 and a beta of 0.98. The stock's 50-day moving average is $78.30 and its 200 day moving average is $70.75. Shinhan Financial Group has a 1-year low of $47.05 and a 1-year 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.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The bank reported $2.26 earnings per share (EPS) for the quarter. Shinhan Financial Group had a net margin of 15.69% and a return on equity of 8.63%. The firm had revenue of $2.96 billion for the quarter. Research analysts predict that Shinhan Financial Group will post 8.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shinhan Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of Shinhan Financial Group by 19.8% during the 3rd quarter. GAMMA Investing LLC now owns 10,424 shares of the bank's stock worth $810,000 after purchasing an additional 1,726 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Shinhan Financial Group by 4.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,562 shares of the bank's stock worth $432,000 after purchasing an additional 218 shares during the period. Valeo Financial Advisors LLC raised its position in Shinhan Financial Group by 7.0% in the third quarter. Valeo Financial Advisors LLC now owns 3,600 shares of the bank's stock valued at $280,000 after purchasing an additional 235 shares during the period. Plan A Wealth LLC boosted its position in shares of Shinhan Financial Group by 1.0% during the third quarter. Plan A Wealth LLC now owns 15,465 shares of the bank's stock worth $1,201,000 after buying an additional 160 shares during the period. Finally, QRG Capital Management Inc. grew its stake in shares of Shinhan Financial Group by 16.1% in the second quarter. QRG Capital Management Inc. now owns 25,601 shares of the bank's stock valued at $1,619,000 after buying an additional 3,544 shares in the last quarter. Institutional investors and hedge funds own 7.76% of the company's stock.

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.

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