Shinhan Financial Group (NYSE:SHG) Sets New 1-Year High - What's Next?

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 hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $52.00 and last traded at $50.59, with a volume of 1041 shares changing hands. The stock had previously closed at $50.32.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised 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 business's fifty day moving average is $44.82 and its 200-day moving average is $37.63. The firm has a market cap of $23.41 billion, a PE ratio of 6.28, a P/E/G ratio of 0.55 and a beta of 0.92.

Hedge Funds Weigh In On Shinhan Financial Group

Institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its position in shares of Shinhan Financial Group by 4.3% during the 4th quarter. Ameriprise Financial Inc. now owns 8,575 shares of the bank's stock valued at $282,000 after purchasing an additional 351 shares during the last quarter. Aquatic Capital Management LLC raised its stake in shares of Shinhan Financial Group by 2.8% during the fourth quarter. Aquatic Capital Management LLC now owns 14,471 shares of the bank's stock worth $476,000 after acquiring an additional 392 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Shinhan Financial Group by 8.1% during the fourth quarter. Sterling Capital Management LLC now owns 5,564 shares of the bank's stock worth $183,000 after acquiring an additional 415 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of 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 acquiring an additional 442 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Shinhan Financial Group by 14.7% during the first quarter. Bessemer Group Inc. now owns 4,077 shares of the bank's stock worth $131,000 after acquiring an additional 522 shares in the last quarter. 7.76% of the stock is currently owned by institutional investors.

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.