Shinhan Financial Group (NYSE:SHG) Reaches New 1-Year High - Here's What Happened

Key Points

• Shinhan Financial Group shares reached a new 52-week high, climbing to $85.57 during Tuesday trading and last trading at $84.4560, up from the prior close of $82.28.
• Analyst sentiment is strongly positive: Zacks Research upgraded the stock to “strong buy,” while Weiss Ratings maintained a “buy” rating. The company has an average “Strong Buy” rating based on two analyst recommendations.
• Shinhan reported quarterly EPS of $2.26 on $2.96 billion in revenue, with an 8.63% return on equity and 15.69% net margin. Institutional investors own 7.76% of the company, with several firms recently increasing their positions.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report)'s share price hit 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 traded. The stock had previously closed at $82.28.

Analyst Upgrades and Downgrades

SHG has been the subject of a number of analyst 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 reiterated a "buy (b)" rating on shares of Shinhan Financial Group in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Strong Buy".

Shinhan Financial Group Stock Up 2.2%

The company has a 50 day moving average price of $73.27 and a two-hundred day moving average price of $67.85. 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 stock has a market cap of $39.48 billion, a PE ratio of 11.31, a PEG ratio of 0.62 and a beta of 0.96.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The bank reported $2.26 earnings per share (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. Analysts expect that Shinhan Financial Group Co Ltd will post 8.53 EPS for the current year.

Institutional Trading of Shinhan Financial Group

Institutional investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. raised its stake in 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 during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Shinhan Financial Group in the 4th quarter worth $38,000. Northwestern Mutual Wealth Management Co. grew its holdings 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 holdings in shares of Shinhan Financial Group by 6,238.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank's stock worth $44,000 after acquiring an additional 811 shares during the period. Finally, Bell Investment Advisors Inc increased its position in Shinhan Financial Group by 31.3% during the first quarter. Bell Investment Advisors Inc now owns 747 shares of the bank's stock valued at $46,000 after acquiring an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company's stock.

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.

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