Shinhan Financial Group (NYSE:SHG) Downgraded by Wall Street Zen to Hold

Key Points

• Shinhan Financial Group's stock rating has been downgraded from "buy" to "hold" by Wall Street Zen.
• The company's stock fell 1.7% and is currently priced at $47.21, with a market capitalization of $22.92 billion.
• Recent institutional trading shows hedge funds increasing their investments in Shinhan Financial Group, with ownership by institutional investors at 7.76%.

Wall Street Zen lowered shares of Shinhan Financial Group (NYSE:SHG - Free Report) from a buy rating to a hold rating in a research note published on Saturday morning.

Shinhan Financial Group Price Performance

SHG traded down $0.95 on Friday, reaching $46.84. The company had a trading volume of 178,709 shares, compared to its average volume of 124,520. The company has a market capitalization of $22.74 billion, a P/E ratio of 4.69, a PEG ratio of 0.51 and a beta of 0.96. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.48. The company has a fifty day moving average of $48.55 and a 200-day moving average of $40.36. Shinhan Financial Group has a one year low of $28.76 and a one year high of $52.00.

Institutional Investors Weigh In On Shinhan Financial Group

Several large investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Shinhan Financial Group in the 4th quarter valued at $574,000. First Trust Advisors LP acquired a new position in shares of Shinhan Financial Group in the 4th quarter valued at $652,000. Tower Research Capital LLC TRC increased its holdings in Shinhan Financial Group by 1,884.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank's stock valued at $95,000 after purchasing an additional 2,751 shares during the last quarter. Stifel Financial Corp raised its holdings in Shinhan Financial Group by 4.5% in the fourth quarter. Stifel Financial Corp now owns 29,024 shares of the bank's stock worth $954,000 after purchasing an additional 1,242 shares during the period. Finally, Aquatic Capital Management LLC grew its stake in Shinhan Financial Group by 2.8% in the fourth quarter. Aquatic Capital Management LLC now owns 14,471 shares of the bank's stock valued at $476,000 after acquiring an additional 392 shares during the period. Institutional investors own 7.76% of the company's stock.

About Shinhan Financial Group

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.