Shinhan Financial Group (NYSE:SHG) Hits New 52-Week High - Should You Buy?

Key Points

• Shinhan Financial Group reached a new 52-week high, trading as high as $73.95 and last at $74.4890, up from its prior close of $72.38.
• Analyst sentiment is strongly positive: Weiss Ratings and Zacks Research recently upgraded the stock, while MarketBeat reports a consensus rating of “Strong Buy.”
• The company reported quarterly EPS of $1.98, a 15.69% net margin and 8.69% return on equity. Shinhan has a market capitalization of $35.29 billion, a P/E ratio of 10.02 and institutional ownership of 7.76%.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $73.95 and last traded at $74.4890, with a volume of 2256 shares changing hands. The stock had previously closed at $72.38.

Analyst Upgrades and Downgrades

SHG has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Shinhan Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, May 19th. Zacks Research raised 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Strong Buy".

Shinhan Financial Group Price Performance

The firm has a 50-day simple moving average of $67.92 and a 200-day simple moving average of $65.37. The firm has a market capitalization of $35.29 billion, a PE ratio of 10.02, a PEG ratio of 0.54 and a beta of 0.94. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.00 and a quick ratio of 1.00.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The bank reported $1.98 EPS for the quarter. Shinhan Financial Group had a net margin of 15.69% and a return on equity of 8.69%. As a group, equities analysts forecast that Shinhan Financial Group Co Ltd will post 8.53 earnings per share for the current year.

Institutional Investors Weigh In On Shinhan Financial Group

A number of hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. lifted its position in 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 in the last quarter. Kestra Advisory Services LLC purchased a new stake in Shinhan Financial Group in the fourth quarter worth about $38,000. Northwestern Mutual Wealth Management Co. raised its stake 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 buying an additional 850 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Shinhan Financial Group by 6,238.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank's stock valued at $44,000 after buying an additional 811 shares in the last quarter. Finally, Bell Investment Advisors Inc grew its stake in shares of Shinhan Financial Group by 31.3% during the 1st 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 period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source