Shinhan Financial Group (NYSE:SHG) Rating Lowered to Hold at Zacks Research

Key Points

• Shinhan Financial Group has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, reflecting changing analyst outlooks.
• The company's current stock price is around $48.91, with a market capitalization of $23.74 billion and a PE ratio of 4.90.
• Various institutional investors have increased their stakes in Shinhan Financial Group, indicating ongoing interest despite the recent downgrade.

Shinhan Financial Group (NYSE:SHG - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

Separately, Wall Street Zen downgraded shares of Shinhan Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Shinhan Financial Group currently has a consensus rating of "Hold".

Shinhan Financial Group Price Performance

NYSE:SHG opened at $48.91 on Wednesday. The firm has a market cap of $23.74 billion, a PE ratio of 4.90, a price-to-earnings-growth ratio of 0.52 and a beta of 0.96. Shinhan Financial Group has a 12 month low of $28.76 and a 12 month high of $52.00. 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's 50-day moving average price is $48.84 and its two-hundred day moving average price is $42.04.

Institutional Investors Weigh In On Shinhan Financial Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. grew its position in shares of Shinhan Financial Group by 1.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 27,509 shares of the bank's stock worth $1,243,000 after buying an additional 308 shares in the last quarter. Groupama Asset Managment increased its position in shares of Shinhan Financial Group by 1.9% in the second quarter. Groupama Asset Managment now owns 17,525 shares of the bank's stock valued at $777,000 after buying an additional 330 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Shinhan Financial Group by 4.3% in the fourth quarter. Ameriprise Financial Inc. now owns 8,575 shares of the bank's stock worth $282,000 after acquiring an additional 351 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Shinhan Financial Group by 5.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,321 shares of the bank's stock worth $274,000 after buying an additional 442 shares during the last quarter. Finally, AMG National Trust Bank lifted its stake in shares of Shinhan Financial Group by 0.9% in the 2nd quarter. AMG National Trust Bank now owns 52,300 shares of the bank's stock valued at $2,363,000 after purchasing an additional 455 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.

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.

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