Shinhan Financial Group (NYSE:SHG) Sets New 52-Week High - Here's What Happened

Shares of Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $51.21 and last traded at $50.40, with a volume of 513029 shares. The stock had previously closed at $46.36.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Shinhan Financial Group from a "hold" rating to a "buy" rating in a report on Monday, May 19th.

Shinhan Financial Group Stock Performance

The firm has a fifty day simple moving average of $42.15 and a 200-day simple moving average of $36.42. The company has a market cap of $24.62 billion, a PE ratio of 6.47, a price-to-earnings-growth ratio of 0.62 and a beta of 0.92. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.51.

Institutional Investors Weigh In On Shinhan Financial Group

Several hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. boosted its stake in shares of Shinhan Financial Group by 4.3% during the fourth quarter. Ameriprise Financial Inc. now owns 8,575 shares of the bank's stock worth $282,000 after buying an additional 351 shares during the period. Aquatic Capital Management LLC raised its position in shares of Shinhan Financial Group by 2.8% during the 4th quarter. Aquatic Capital Management LLC now owns 14,471 shares of the bank's stock worth $476,000 after purchasing an additional 392 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Shinhan Financial Group by 8.1% during the 4th quarter. Sterling Capital Management LLC now owns 5,564 shares of the bank's stock worth $183,000 after purchasing an additional 415 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Shinhan Financial Group by 5.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,321 shares of the bank's stock worth $274,000 after purchasing an additional 442 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Shinhan Financial Group by 14.7% during the 1st quarter. Bessemer Group Inc. now owns 4,077 shares of the bank's stock worth $131,000 after purchasing an additional 522 shares during the last quarter. Institutional investors and hedge funds own 7.76% of the company's stock.

Shinhan Financial Group Company Profile

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.