Shinhan Financial Group (NYSE:SHG) Hits New 12-Month High - What's Next?

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

Analysts Set New Price Targets

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

Shinhan Financial Group Stock Performance

The company has a debt-to-equity ratio of 1.51, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $24.62 billion, a price-to-earnings ratio of 6.47, a price-to-earnings-growth ratio of 0.61 and a beta of 0.92. The company has a fifty day moving average price of $42.15 and a two-hundred day moving average price of $36.43.

Institutional Trading of Shinhan Financial Group

Several institutional investors have recently modified their holdings of the company. Northern Trust Corp lifted its holdings in shares of Shinhan Financial Group by 3.9% in the first quarter. Northern Trust Corp now owns 1,501,208 shares of the bank's stock valued at $48,159,000 after buying an additional 56,088 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Shinhan Financial Group by 4.4% during the fourth quarter. Lazard Asset Management LLC now owns 1,353,820 shares of the bank's stock valued at $44,513,000 after purchasing an additional 57,640 shares during the last quarter. Pzena Investment Management LLC raised its position in Shinhan Financial Group by 0.4% during the first quarter. Pzena Investment Management LLC now owns 1,078,696 shares of the bank's stock valued at $34,605,000 after buying an additional 4,645 shares during the period. American Century Companies Inc. raised its position in Shinhan Financial Group by 6.9% during the first quarter. American Century Companies Inc. now owns 840,232 shares of the bank's stock valued at $26,955,000 after buying an additional 54,204 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Shinhan Financial Group by 10.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 617,210 shares of the bank's stock valued at $19,800,000 after buying an additional 58,660 shares during the period. 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.