Shinhan Financial Group (NYSE:SHG) Earns Buy (B-) Rating from Weiss Ratings

Key Points

• Shinhan Financial Group has received a "buy (B-)" rating from Weiss Ratings, indicating a positive outlook from equity researchers.
• Other firms, like Zacks Research and Wall Street Zen, have downgraded the stock to "hold," resulting in a current consensus rating of "Moderate Buy."
• Shares of the company traded up $1.15 to $51.27, with a twelve-month range of $28.76 to $52.00 and a market capitalization of $24.89 billion.

Shinhan Financial Group (NYSE:SHG - Get Free Report)'s stock had its "buy (b-)" rating reiterated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently weighed in on SHG. Zacks Research cut Shinhan Financial Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 24th. Wall Street Zen cut Shinhan Financial Group from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

Shinhan Financial Group Price Performance

Shares of NYSE SHG traded up $1.15 during trading on Wednesday, reaching $51.27. The company had a trading volume of 382,902 shares, compared to its average volume of 216,455. Shinhan Financial Group has a twelve month low of $28.76 and a twelve month high of $52.00. The stock has a market capitalization of $24.89 billion, a PE ratio of 5.14, a price-to-earnings-growth ratio of 0.54 and a beta of 0.94. The stock has a 50-day moving average price of $48.99 and a two-hundred day moving average price of $43.17. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.48.

Institutional Investors Weigh In On Shinhan Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in Shinhan Financial Group by 3.9% during the first quarter. Northern Trust Corp now owns 1,501,208 shares of the bank's stock worth $48,159,000 after acquiring an additional 56,088 shares during the last quarter. Lazard Asset Management LLC increased its stake in Shinhan Financial Group by 2.8% during the second quarter. Lazard Asset Management LLC now owns 1,497,967 shares of the bank's stock worth $67,677,000 after acquiring an additional 40,448 shares during the last quarter. Pzena Investment Management LLC increased its stake in Shinhan Financial Group by 0.4% during the first quarter. Pzena Investment Management LLC now owns 1,078,696 shares of the bank's stock worth $34,605,000 after acquiring an additional 4,645 shares during the last quarter. American Century Companies Inc. increased its stake in Shinhan Financial Group by 16.5% during the second quarter. American Century Companies Inc. now owns 979,011 shares of the bank's stock worth $44,232,000 after acquiring an additional 138,779 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Shinhan Financial Group by 10.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 617,210 shares of the bank's stock worth $19,800,000 after acquiring an additional 58,660 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Shinhan Financial Group Company Profile

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.

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