Shinhan Financial Group (NYSE:SHG) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Shinhan Financial Group (NYSE:SHG) from a hold rating to a buy rating in a research report report published on Saturday, reports. They currently have $40.00 price target on the bank’s stock.

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. “

NYSE SHG opened at $34.74 on Friday. The company has a market capitalization of $17.95 billion, a PE ratio of 6.06, a P/E/G ratio of 2.16 and a beta of 0.86. The company has a fifty day moving average of $33.12 and a 200 day moving average of $30.54. Shinhan Financial Group has a 1 year low of $22.75 and a 1 year high of $36.09. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.07 and a quick ratio of 1.07.

Shinhan Financial Group (NYSE:SHG) last posted its earnings results on Wednesday, March 3rd. The bank reported $0.69 earnings per share (EPS) for the quarter. The company had revenue of $3.14 billion during the quarter. Shinhan Financial Group had a net margin of 17.06% and a return on equity of 8.26%. Research analysts expect that Shinhan Financial Group will post 5.9 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Fieldpoint Private Securities LLC purchased a new stake in shares of Shinhan Financial Group during the fourth quarter worth about $49,000. Lindbrook Capital LLC grew its stake in Shinhan Financial Group by 14.6% during the 1st quarter. Lindbrook Capital LLC now owns 4,427 shares of the bank’s stock valued at $148,000 after acquiring an additional 563 shares in the last quarter. Virtu Financial LLC purchased a new stake in Shinhan Financial Group during the 4th quarter valued at about $203,000. Bank of New York Mellon Corp purchased a new stake in Shinhan Financial Group during the 4th quarter valued at about $221,000. Finally, WealthStone Inc. purchased a new stake in Shinhan Financial Group during the 4th quarter valued at about $223,000. Institutional investors and hedge funds own 2.81% of the company’s stock.

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.

Recommended Story: How does a reverse stock split work?

Get a free copy of the Zacks research report on Shinhan Financial Group (SHG)

For more information about research offerings from Zacks Investment Research, visit

Receive News & Ratings for Shinhan Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shinhan Financial Group and related companies with's FREE daily email newsletter.