Shinhan Financial Group Co Ltd (NYSE:SHG – Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $84.47, but opened at $80.52. Shinhan Financial Group shares last traded at $81.63, with a volume of 17,050 shares changing hands.
Analysts Set New Price Targets
A number of brokerages have commented on SHG. Weiss Ratings restated a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Friday, August 14th. Zacks Research raised shares of Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Strong Buy”.
Shinhan Financial Group Price Performance
Shinhan Financial Group (NYSE:SHG – Get Free Report) last posted its earnings results on Friday, August 14th. The bank reported $2.26 EPS for the quarter. Shinhan Financial Group had a net margin of 15.69% and a return on equity of 8.63%. The business had revenue of $2.96 billion for the quarter. On average, analysts predict that Shinhan Financial Group Co Ltd will post 8.53 EPS for the current year.
Hedge Funds Weigh In On Shinhan Financial Group
A number of large investors have recently bought and sold shares of the business. First Trust Advisors LP grew its stake in Shinhan Financial Group by 107.5% in the first quarter. First Trust Advisors LP now owns 34,286 shares of the bank’s stock valued at $2,102,000 after purchasing an additional 17,759 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Shinhan Financial Group by 40.5% in the 1st quarter. Quantinno Capital Management LP now owns 173,250 shares of the bank’s stock valued at $10,624,000 after buying an additional 49,966 shares in the last quarter. UBS Group AG grew its position in shares of Shinhan Financial Group by 129.1% in the 4th quarter. UBS Group AG now owns 151,613 shares of the bank’s stock worth $8,131,000 after buying an additional 85,446 shares during the last quarter. Abacus Wealth Partners LLC bought a new position in shares of Shinhan Financial Group during the 4th quarter worth approximately $1,029,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Shinhan Financial Group by 11.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 194,096 shares of the bank’s stock worth $10,409,000 after acquiring an additional 20,217 shares in the last quarter. Institutional investors own 7.76% of the company’s stock.
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.
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