Shinhan Financial Group (NYSE:SHG) Lowered to Hold at StockNews.com

Shinhan Financial Group (NYSE:SHG) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Separately, Bank of America raised shares of Shinhan Financial Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th.

Shinhan Financial Group Stock Down 0.5 %

NYSE SHG traded down $0.14 during trading hours on Wednesday, reaching $29.34. 101,592 shares of the company’s stock traded hands, compared to its average volume of 146,711. Shinhan Financial Group has a 52-week low of $24.99 and a 52-week high of $38.65. The firm has a market cap of $14.95 billion, a PE ratio of 5.02, a PEG ratio of 0.61 and a beta of 0.91. The firm has a 50-day simple moving average of $33.73 and a 200 day simple moving average of $30.10. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.02 and a quick ratio of 1.01.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Financial Management Professionals Inc. raised its holdings in Shinhan Financial Group by 2,900.0% in the third quarter. Financial Management Professionals Inc. now owns 1,050 shares of the bank’s stock worth $28,000 after buying an additional 1,015 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Shinhan Financial Group during the fourth quarter valued at approximately $29,000. Paradigm Asset Management Co. LLC purchased a new position in shares of Shinhan Financial Group during the third quarter valued at approximately $40,000. Janiczek Wealth Management LLC raised its holdings in shares of Shinhan Financial Group by 46.7% during the third quarter. Janiczek Wealth Management LLC now owns 1,601 shares of the bank’s stock valued at $42,000 after purchasing an additional 510 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Shinhan Financial Group by 51.6% during the third quarter. Allworth Financial LP now owns 1,628 shares of the bank’s stock valued at $43,000 after purchasing an additional 554 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.

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, Life 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.