Zacks: Shinhan Financial Group Co., Ltd. (SHG) Receives Consensus Rating of “Hold” from Brokerages

Shinhan Financial Group Co., Ltd. (NYSE:SHG) has been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.

Analysts have set a 1-year consensus price target of $52.00 for the company, according to Zacks. Zacks has also given Shinhan Financial Group an industry rank of 235 out of 255 based on the ratings given to related companies.

A number of brokerages have commented on SHG. ValuEngine downgraded Shinhan Financial Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Zacks Investment Research downgraded Shinhan Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. Finally, Bank of America upgraded Shinhan Financial Group from a “neutral” rating to a “buy” rating in a research note on Thursday, August 30th.

NYSE:SHG traded up $0.32 during mid-day trading on Friday, reaching $39.26. The stock had a trading volume of 82,300 shares, compared to its average volume of 89,410. The company has a market capitalization of $18.01 billion, a price-to-earnings ratio of 3.43, a price-to-earnings-growth ratio of 1.53 and a beta of 1.10. Shinhan Financial Group has a 1-year low of $36.35 and a 1-year high of $50.37. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.07 and a current ratio of 1.07.

Shinhan Financial Group (NYSE:SHG) last issued its earnings results on Tuesday, August 14th. The bank reported $3.66 EPS for the quarter. Shinhan Financial Group had a return on equity of 8.45% and a net margin of 17.31%. The company had revenue of $2.33 billion during the quarter. equities research analysts forecast that Shinhan Financial Group will post 5.68 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of SHG. Wells Fargo & Company MN boosted its stake in Shinhan Financial Group by 49.5% in the first quarter. Wells Fargo & Company MN now owns 182,753 shares of the bank’s stock valued at $7,749,000 after acquiring an additional 60,544 shares during the period. LSV Asset Management boosted its stake in Shinhan Financial Group by 845.5% in the first quarter. LSV Asset Management now owns 10,400 shares of the bank’s stock valued at $440,000 after acquiring an additional 9,300 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Shinhan Financial Group by 9.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 406,687 shares of the bank’s stock valued at $17,244,000 after acquiring an additional 35,409 shares during the period. Northern Trust Corp boosted its stake in Shinhan Financial Group by 1.9% in the first quarter. Northern Trust Corp now owns 1,369,487 shares of the bank’s stock valued at $58,066,000 after acquiring an additional 25,415 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Shinhan Financial Group by 16.2% during the first quarter. BlackRock Inc. now owns 504,015 shares of the bank’s stock valued at $21,372,000 after buying an additional 70,434 shares during the last quarter. Institutional investors own 2.50% of the company’s stock.

About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through five segments: Banking, Credit Cards, Securities, Life Insurance, and Others. It offers retail banking services, including mortgage and home equity, and retail lending; demand, savings, and fixed deposit-taking; checking accounts; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.

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