Shinhan Financial Group (NYSE:SHG) Lowered to Hold at Zacks Investment Research

Shinhan Financial Group (NYSE:SHG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Shinhan Financial Group is Korea’s largest financial services company. Shinhan Bank is the Group’s flagship subsidiary, and, when combined with the recently acquired Chohung Bank, is Korea’s second largest banking operation. Besides banking, the Group operates subsidiaries in securities, credit cards, asset management, leasing, bancassurance, and project finance. “

Shares of SHG opened at $35.34 on Tuesday. Shinhan Financial Group has a 52-week low of $22.75 and a 52-week high of $36.09. The firm has a market capitalization of $18.26 billion, a PE ratio of 6.17, a P/E/G ratio of 2.16 and a beta of 0.86. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a 50 day simple moving average of $33.03 and a 200 day simple moving average of $30.48.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings data on Wednesday, March 3rd. The bank reported $0.69 EPS for the quarter. Shinhan Financial Group had a return on equity of 8.26% and a net margin of 17.06%. The firm had revenue of $3.14 billion for the quarter. Equities research analysts predict that Shinhan Financial Group will post 5.9 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fieldpoint Private Securities LLC acquired a new stake in Shinhan Financial Group in the fourth quarter valued at about $49,000. Lindbrook Capital LLC raised its position in Shinhan Financial Group by 14.6% in the first quarter. Lindbrook Capital LLC now owns 4,427 shares of the bank’s stock valued at $148,000 after purchasing an additional 563 shares during the last quarter. Virtu Financial LLC bought a new position in Shinhan Financial Group in the fourth quarter valued at about $203,000. Bank of New York Mellon Corp bought a new position in Shinhan Financial Group in the fourth quarter valued at about $221,000. Finally, WealthStone Inc. bought a new position in shares of Shinhan Financial Group during the fourth quarter worth about $223,000. 2.81% of the stock is currently owned by institutional investors.

Shinhan Financial Group Company Profile

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. It offers various deposits; personal, corporate, and investment finance, as well as business loans; and trust, foreign exchange, fund, bancassurance, and internet banking services. The company was founded in 1982 and is headquartered in Seoul, South Korea.

Further Reading: Buy-Side Analysts

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