Shinhan Financial Group (NYSE:SHG) Sets New 1-Year High - Should You Buy?

Key Points

• Shinhan Financial Group shares reached a new 52-week high of $80.60, up from a prior close of $79.17, with the stock trading well above its 50-day and 200-day moving averages.
• Analysts are broadly bullish: Zacks Research upgraded the stock to “strong buy,” Weiss Ratings reiterated a “buy” rating, and the consensus rating is “Strong Buy.”
• The bank reported quarterly earnings of $2.26 per share on $2.96 billion in revenue, while institutional investors—including Brown Brothers Harriman and Northwestern Mutual—recently increased their holdings.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $80.60 and last traded at $80.4950, with a volume of 37021 shares changing hands. The stock had previously closed at $79.17.

Analysts Set New Price Targets

SHG has been the topic of a number of research reports. Weiss Ratings restated a "buy (b)" rating on shares of Shinhan Financial Group in a report on Friday, August 14th. Zacks Research upgraded shares of Shinhan Financial Group from a "hold" rating to a "strong-buy" rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Strong Buy".

Shinhan Financial Group Stock Performance

The firm has a market capitalization of $37.65 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 0.60 and a beta of 0.94. 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 50-day moving average price of $71.33 and a 200-day moving average price of $67.40.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The bank reported $2.26 earnings per share for the quarter. The business had revenue of $2.96 billion during the quarter. Shinhan Financial Group had a net margin of 15.69% and a return on equity of 8.63%. On average, research analysts expect that Shinhan Financial Group Co Ltd will post 8.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SHG. Brown Brothers Harriman & Co. grew its holdings in shares of Shinhan Financial Group by 71.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank's stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Shinhan Financial Group during the fourth quarter valued at approximately $38,000. Bell Investment Advisors Inc boosted its position in shares of Shinhan Financial Group by 31.3% during the first quarter. Bell Investment Advisors Inc now owns 747 shares of the bank's stock worth $46,000 after buying an additional 178 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Shinhan Financial Group by 6,238.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank's stock worth $44,000 after buying an additional 811 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Shinhan Financial Group by 1,465.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank's stock worth $41,000 after buying an additional 850 shares in the last quarter. 7.76% of the stock is owned by institutional investors and hedge funds.

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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