Shinhan Financial Group (NYSE:SHG) Reaches New 1-Year High - Here's Why

Key Points

• Shinhan Financial Group hit a new 52-week high, trading as high as $73.66 before last changing hands at $73.55, up from the prior close of $70.58.
• Analyst sentiment remains mixed but generally constructive: Zacks cut the stock to hold while Weiss Ratings upgraded it, leaving the overall consensus at Moderate Buy.
• The bank reported EPS of $1.98 in its latest quarterly results, and analysts expect $7.98 EPS for the current fiscal year; institutional investors also increased holdings in the name.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $73.66 and last traded at $73.55, with a volume of 15916 shares. The stock had previously closed at $70.58.

Analysts Set New Price Targets

Several equities research analysts have commented on SHG shares. Zacks Research downgraded shares of Shinhan Financial Group from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Weiss Ratings upgraded Shinhan Financial Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Shinhan Financial Group currently has a consensus rating of "Moderate Buy".

Shinhan Financial Group Stock Performance

The business has a fifty day moving average of $65.79 and a 200-day moving average of $63.07. The company has a market cap of $34.79 billion, a PE ratio of 7.98, a P/E/G ratio of 0.58 and a beta of 0.94. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.43.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The bank reported $1.98 earnings per share (EPS) for the quarter. Shinhan Financial Group had a net margin of 20.07% and a return on equity of 10.97%. Equities research analysts anticipate that Shinhan Financial Group Co Ltd will post 7.98 earnings per share for the current fiscal year.

Institutional Trading of Shinhan Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC grew its stake in shares of Shinhan Financial Group by 152.0% in the first quarter. Millennium Management LLC now owns 582,570 shares of the bank's stock worth $18,689,000 after acquiring an additional 351,413 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Shinhan Financial Group by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank's stock valued at $10,376,000 after purchasing an additional 118,548 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Shinhan Financial Group by 6.0% during the 4th quarter. Lazard Asset Management LLC now owns 1,671,184 shares of the bank's stock valued at $89,626,000 after buying an additional 94,449 shares during the period. UBS Group AG increased its position in shares of Shinhan Financial Group by 129.1% during the 4th quarter. UBS Group AG now owns 151,613 shares of the bank's stock valued at $8,131,000 after purchasing an additional 85,446 shares during the last quarter. Finally, Laird Norton Wetherby Trust Company LLC bought a new position in Shinhan Financial Group in the fourth quarter worth approximately $4,030,000. Hedge funds and other institutional investors own 7.76% of the company's stock.

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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