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

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 report released on Saturday.

Shinhan Financial Group Stock Down 1.7%

Shares of SHG stock traded down $0.84 during trading on Friday, reaching $47.21. The company's stock had a trading volume of 194,475 shares, compared to its average volume of 132,368. The business has a fifty day moving average price of $48.31 and a 200-day moving average price of $40.08. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.48. The company has a market cap of $22.92 billion, a price-to-earnings ratio of 4.73, a price-to-earnings-growth ratio of 0.51 and a beta of 0.96. Shinhan Financial Group has a one year low of $28.76 and a one year high of $52.00.

Institutional Trading of Shinhan Financial Group

Institutional investors have recently made changes to their positions in the business. Orion Porfolio Solutions LLC raised its position in Shinhan Financial Group by 11.4% during the second quarter. Orion Porfolio Solutions LLC now owns 67,241 shares of the bank's stock worth $3,038,000 after acquiring an additional 6,898 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in Shinhan Financial Group during the second quarter worth $306,000. Tower Research Capital LLC TRC raised its position in Shinhan Financial Group by 9,389.1% during the second quarter. Tower Research Capital LLC TRC now owns 8,730 shares of the bank's stock worth $394,000 after acquiring an additional 8,638 shares in the last quarter. Corient Private Wealth LLC raised its position in Shinhan Financial Group by 64.7% during the second quarter. Corient Private Wealth LLC now owns 32,710 shares of the bank's stock worth $1,478,000 after acquiring an additional 12,847 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position 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 in the last quarter. 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.