Shinhan Financial Group (NYSE:SHG) Issues Earnings Results, Beats Expectations By $0.22 EPS

Key Points

• Shinhan Financial Group beat earnings expectations, reporting quarterly EPS of $2.50 versus the consensus estimate of $2.28, a surprise of $0.22.
• The bank posted solid profitability metrics, with a return on equity of 10.97% and a net margin of 20.07%.
• Shares rose after the report, with NYSE:SHG trading up to $71.50; the stock remains near its 52-week high of $73.80.

Shinhan Financial Group (NYSE:SHG - Get Free Report) posted its quarterly earnings results on Thursday. The bank reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.28 by $0.22, Zacks reports. Shinhan Financial Group had a return on equity of 10.97% and a net margin of 20.07%.

Shinhan Financial Group Stock Performance

NYSE SHG traded up $0.85 on Thursday, hitting $71.50. 20,260 shares of the stock traded hands, compared to its average volume of 281,634. The firm has a market capitalization of $33.94 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 0.57 and a beta of 0.94. The business's fifty day moving average is $66.55 and its two-hundred day moving average is $64.19. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.00 and a current ratio of 1.00. Shinhan Financial Group has a 12 month low of $46.26 and a 12 month high of $73.80.

Institutional Trading of Shinhan Financial Group

Institutional investors have recently modified their holdings of the business. Compound Planning Inc. lifted its position in shares of Shinhan Financial Group by 5.8% during the fourth quarter. Compound Planning Inc. now owns 16,281 shares of the bank's stock worth $873,000 after acquiring an additional 892 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Shinhan Financial Group by 8.1% in the fourth quarter. Corient Private Wealth LLC now owns 22,909 shares of the bank's stock worth $1,229,000 after buying an additional 1,726 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Shinhan Financial Group by 5.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,516 shares of the bank's stock valued at $457,000 after acquiring an additional 418 shares during the period. XTX Topco Ltd purchased a new position in Shinhan Financial Group during the fourth quarter valued at approximately $376,000. Finally, Millennium Management LLC lifted its stake in Shinhan Financial Group by 107.8% in the 4th quarter. Millennium Management LLC now owns 203,703 shares of the bank's stock worth $10,925,000 after purchasing an additional 105,677 shares in the last quarter. 7.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Zacks Research cut Shinhan Financial Group from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Weiss Ratings raised shares of Shinhan Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Shinhan Financial Group currently has an average rating of "Moderate Buy".

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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