Shinhan Financial Group (NYSE:SHG – Get Free Report) issued its quarterly earnings data on Thursday. The bank reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.22, Zacks reports. Shinhan Financial Group had a return on equity of 10.97% and a net margin of 20.07%.
Shinhan Financial Group Trading Up 2.4%
Shares of NYSE:SHG traded up $1.72 during midday trading on Thursday, hitting $72.37. 46,716 shares of the stock traded hands, compared to its average volume of 281,687. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.43. The business’s 50 day moving average is $66.55 and its two-hundred day moving average is $64.19. The stock has a market capitalization of $34.35 billion, a PE ratio of 7.81, a P/E/G ratio of 0.57 and a beta of 0.94. Shinhan Financial Group has a one year low of $46.26 and a one year high of $73.80.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on SHG. Weiss Ratings upgraded Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Zacks Research downgraded shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of SHG. Brown Brothers Harriman & Co. increased its position in Shinhan Financial Group by 71.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Stifel Financial Corp grew its holdings in Shinhan Financial Group by 2.4% during the 4th quarter. Stifel Financial Corp now owns 10,603 shares of the bank’s stock valued at $569,000 after purchasing an additional 248 shares during the last quarter. United Capital Financial Advisors LLC raised its position in Shinhan Financial Group by 3.6% in the 3rd quarter. United Capital Financial Advisors LLC now owns 8,338 shares of the bank’s stock worth $420,000 after purchasing an additional 293 shares during the period. Clearbridge Investments LLC lifted its stake in Shinhan Financial Group by 0.4% in the fourth quarter. Clearbridge Investments LLC now owns 110,531 shares of the bank’s stock worth $5,928,000 after purchasing an additional 400 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in Shinhan Financial Group by 5.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 8,516 shares of the bank’s stock worth $457,000 after purchasing an additional 418 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company’s stock.
About Shinhan Financial Group
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.
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