Shinhan Financial Group (NYSE:SHG) Hits New 52-Week High – Time to Buy?

Shares of Shinhan Financial Group Co Ltd (NYSE:SHG) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $56.01 and last traded at $55.86, with a volume of 95259 shares changing hands. The stock had previously closed at $54.74.

Analyst Ratings Changes

SHG has been the topic of a number of analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Shinhan Financial Group in a research report on Monday, November 24th. Wall Street Zen cut Shinhan Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Zacks Research cut Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Shinhan Financial Group Trading Up 2.3%

The firm has a market capitalization of $27.18 billion, a PE ratio of 5.61, a P/E/G ratio of 0.56 and a beta of 1.01. The firm has a 50 day simple moving average of $52.05 and a 200 day simple moving average of $48.42. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.48.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings results on Friday, November 14th. The bank reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.08. Shinhan Financial Group had a return on equity of 12.27% and a net margin of 21.21%.The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Equities analysts expect that Shinhan Financial Group Co Ltd will post 5.97 earnings per share for the current fiscal year.

Institutional Trading of Shinhan Financial Group

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in shares of Shinhan Financial Group by 8.2% during the first quarter. Bank of New York Mellon Corp now owns 8,994 shares of the bank’s stock valued at $289,000 after purchasing an additional 682 shares during the last quarter. HB Wealth Management LLC bought a new stake in Shinhan Financial Group in the 1st quarter worth approximately $203,000. XTX Topco Ltd purchased a new stake in Shinhan Financial Group during the 1st quarter valued at $227,000. US Bancorp DE raised its stake in Shinhan Financial Group by 5.0% during the 1st quarter. US Bancorp DE now owns 28,603 shares of the bank’s stock valued at $918,000 after buying an additional 1,350 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Shinhan Financial Group by 10.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 617,210 shares of the bank’s stock valued at $19,800,000 after buying an additional 58,660 shares during the period. Hedge funds and other institutional investors own 7.76% 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. The company operates through six segments: Banking, Credit Card, Securities, Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.