Shinhan Financial Group (NYSE:SHG) Reaches New 52-Week High - Time to Buy?

Key Points

• Shinhan Financial Group shares reached a new 52-week high of $52.00, last trading at $50.59 with a volume of 1,041 shares.
• Wall Street Zen upgraded the stock from a "hold" to a "buy" rating, indicating positive sentiment about the company's future performance.
• The company has a market cap of $25.24 billion and a PE ratio of 6.63, suggesting it is positioned attractively within the market.
• Institutional investors recently increased their holdings, with significant increases from firms such as Bessemer Group and GAMMA Investing, reflecting growing interest in the stock.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report)'s stock price reached a new 52-week high on Friday . The stock traded as high as $52.00 and last traded at $50.59, with a volume of 1041 shares trading hands. The stock had previously closed at $50.32.

Wall Street Analyst Weigh In

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 Price 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 company's 50-day moving average price is $45.02 and its 200-day moving average price is $37.73. The company has a market cap of $23.88 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.55 and a beta of 0.92.

Institutional Trading of Shinhan Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ritholtz Wealth Management boosted its position in shares of Shinhan Financial Group by 4.7% during the second quarter. Ritholtz Wealth Management now owns 71,143 shares of the bank's stock worth $3,214,000 after buying an additional 3,187 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Shinhan Financial Group by 26.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 24,934 shares of the bank's stock valued at $1,127,000 after acquiring an additional 5,150 shares in the last quarter. Yousif Capital Management LLC boosted its position in Shinhan Financial Group by 7.2% during the 2nd quarter. Yousif Capital Management LLC now owns 50,571 shares of the bank's stock worth $2,285,000 after acquiring an additional 3,395 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Shinhan Financial Group by 30.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 75,468 shares of the bank's stock worth $3,410,000 after acquiring an additional 17,453 shares in the last quarter. Finally, Natural Investments LLC raised its holdings in shares of Shinhan Financial Group by 6.3% in the second quarter. Natural Investments LLC now owns 28,780 shares of the bank's stock valued at $1,300,000 after purchasing an additional 1,695 shares during the last quarter. Institutional investors and hedge funds 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.