Shinhan Financial Group (NYSE:SHG) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded Shinhan Financial Group from "strong-buy" to "hold," and Weiss Ratings trimmed its view from "buy (b)" to "buy (b-)," leaving the stock with an average rating of "Moderate Buy."
• Current valuation: shares opened at $66.93 with a market cap of $31.77 billion, a P/E of 7.43, PEG of 0.52, and a 52-week range of $35.21–$73.40.
• Institutional ownership is low (7.76%), though several institutions made modest purchases and stake increases in recent quarters.

Shinhan Financial Group (NYSE:SHG - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings downgraded shares of Shinhan Financial Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy".

Shinhan Financial Group Stock Up 0.2%

Shares of NYSE SHG opened at $66.93 on Monday. The stock has a market cap of $31.77 billion, a P/E ratio of 7.43, a P/E/G ratio of 0.52 and a beta of 0.96. The firm has a 50 day moving average price of $64.51 and a 200 day moving average price of $58.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.00 and a current ratio of 1.00. Shinhan Financial Group has a 52-week low of $35.21 and a 52-week high of $73.40.

Institutional Investors Weigh In On Shinhan Financial Group

A number of large investors have recently bought and sold shares of SHG. Brown Brothers Harriman & Co. grew its stake in Shinhan Financial Group by 71.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank's stock worth $26,000 after buying an additional 200 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Shinhan Financial Group during the fourth quarter worth about $38,000. Northwestern Mutual Wealth Management Co. grew its stake in Shinhan Financial Group by 1,465.5% during the second 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. TD Private Client Wealth LLC acquired a new stake in Shinhan Financial Group during the third quarter worth about $42,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Shinhan Financial Group by 6,238.5% during the fourth 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. 7.76% of the stock is currently owned by institutional investors and hedge funds.

About Shinhan Financial Group

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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