StockNews.com Upgrades Shinhan Financial Group (NYSE:SHG) to Buy

Shinhan Financial Group (NYSE:SHG) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

Shinhan Financial Group Stock Performance

NYSE SHG traded up $0.78 during trading hours on Monday, reaching $38.05. The stock had a trading volume of 244,442 shares, compared to its average volume of 178,267. The stock has a fifty day moving average of $33.63 and a 200 day moving average of $34.79. The stock has a market cap of $19.16 billion, a P/E ratio of 5.97, a price-to-earnings-growth ratio of 0.44 and a beta of 0.84. Shinhan Financial Group has a 52-week low of $28.76 and a 52-week high of $46.05. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.04 and a current ratio of 1.04.

Shinhan Financial Group (NYSE:SHG) last announced its quarterly earnings results on Tuesday, March 4th. The bank reported $1.94 earnings per share (EPS) for the quarter. The company had revenue of $2.82 billion during the quarter. Shinhan Financial Group had a return on equity of 7.34% and a net margin of 12.21%. Sell-side analysts predict that Shinhan Financial Group will post 5.97 earnings per share for the current year.

Institutional Trading of Shinhan Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Aaron Wealth Advisors LLC increased its stake in shares of Shinhan Financial Group by 3.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,627 shares of the bank’s stock worth $251,000 after acquiring an additional 289 shares during the last quarter. Ameriprise Financial Inc. grew its holdings 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 worth $282,000 after purchasing an additional 351 shares during the period. Aquatic Capital Management LLC grew its holdings 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 period. Sterling Capital Management LLC grew its holdings 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 period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings 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 period. 7.76% of the stock is owned by institutional investors and hedge funds.

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.