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

Shinhan Financial Group Co Ltd (NYSE:SHG)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $61.73 and last traded at $61.1320, with a volume of 32479 shares traded. The stock had previously closed at $58.55.

Analyst Ratings Changes

SHG has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Monday, December 29th. Zacks Research lowered Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Shinhan Financial Group Stock Up 3.8%

The company has a debt-to-equity ratio of 1.51, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $29.50 billion, a PE ratio of 5.92, a PEG ratio of 0.61 and a beta of 1.00. The company has a 50 day moving average price of $54.71 and a 200-day moving average price of $51.84.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings data on Friday, November 14th. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.08. Shinhan Financial Group had a net margin of 22.38% and a return on equity of 12.45%. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $3.79 billion. As a group, analysts forecast that Shinhan Financial Group Co Ltd will post 5.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Shinhan Financial Group by 1,465.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after buying an additional 850 shares during the last quarter. TD Private Client Wealth LLC purchased a new stake in shares of Shinhan Financial Group during the 3rd quarter valued at about $42,000. Westside Investment Management Inc. purchased a new stake in shares of Shinhan Financial Group during the 2nd quarter valued at about $47,000. Osaic Holdings Inc. lifted its stake in shares of Shinhan Financial Group by 387.3% in the 2nd quarter. Osaic Holdings Inc. now owns 1,306 shares of the bank’s stock worth $59,000 after purchasing an additional 1,038 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Shinhan Financial Group by 3,831.3% in the third quarter. Smartleaf Asset Management LLC now owns 1,887 shares of the bank’s stock worth $95,000 after buying an additional 1,839 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors.

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.