Shinhan Financial Group (NYSE:SHG) Sets New 12-Month High – What’s Next?

Shinhan Financial Group Co Ltd (NYSE:SHG)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $61.73 and last traded at $61.1320, with a volume of 32479 shares trading hands. The stock had previously closed at $58.55.

Wall Street Analyst Weigh In

SHG has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Monday, December 29th. Zacks Research cut Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Shinhan Financial Group Stock Up 3.8%

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.51. The firm has a market cap of $29.50 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 0.61 and a beta of 1.00. The stock’s fifty day moving average is $54.71 and its two-hundred day moving average is $51.84.

Shinhan Financial Group (NYSE:SHG) last released its quarterly earnings results on Friday, November 14th. The bank reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.08. Shinhan Financial Group had a net margin of 22.38% and a return on equity of 12.45%. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $3.79 billion. As a group, research analysts anticipate that Shinhan Financial Group Co Ltd will post 5.97 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in Shinhan Financial Group by 9.1% during the first quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock worth $4,049,000 after purchasing an additional 10,534 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Shinhan Financial Group in the first quarter worth approximately $210,000. Millennium Management LLC grew its position in Shinhan Financial Group by 152.0% during the first quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock valued at $18,689,000 after acquiring an additional 351,413 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Shinhan Financial Group by 57.9% during the first quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock worth $10,376,000 after acquiring an additional 118,548 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Shinhan Financial Group by 7.6% in the 2nd quarter. QRG Capital Management Inc. now owns 16,928 shares of the bank’s stock worth $765,000 after acquiring an additional 1,194 shares during the last quarter. 7.76% of the stock is currently owned by hedge funds and other institutional investors.

Shinhan Financial Group Company Profile

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company’s principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.