Shinhan Financial Group (NYSE:SHG) Lowered to Hold at StockNews.com

Shinhan Financial Group (NYSE:SHG – Get Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other research firms also recently issued reports on SHG. Bank of America downgraded Shinhan Financial Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $38.46 to $32.31 in a research note on Wednesday, March 1st. The Goldman Sachs Group downgraded Shinhan Financial Group from a “buy” rating to a “neutral” rating in a research report on Sunday, March 5th. Finally, Morgan Stanley downgraded Shinhan Financial Group from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, May 16th.

Shinhan Financial Group Stock Performance

SHG opened at $26.23 on Friday. The business’s 50-day moving average price is $26.55 and its two-hundred day moving average price is $28.78. Shinhan Financial Group has a 1 year low of $22.98 and a 1 year high of $36.64. The company has a market capitalization of $13.25 billion, a price-to-earnings ratio of 4.02, a P/E/G ratio of 2.65 and a beta of 0.84. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.02 and a quick ratio of 1.02.

Shinhan Financial Group (NYSE:SHG – Get Rating) last released its quarterly earnings results on Monday, March 6th. The bank reported $0.41 earnings per share (EPS) for the quarter. Shinhan Financial Group had a return on equity of 9.18% and a net margin of 17.86%. The firm had revenue of $3.09 billion for the quarter. Equities analysts expect that Shinhan Financial Group will post 6.26 EPS for the current fiscal year.

Institutional Trading of Shinhan Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in Shinhan Financial Group by 7.4% during the third quarter. BlackRock Inc. now owns 1,936,519 shares of the bank’s stock worth $44,541,000 after buying an additional 134,260 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Shinhan Financial Group by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,644,490 shares of the bank’s stock worth $37,829,000 after buying an additional 9,891 shares during the last quarter. Morgan Stanley increased its position in Shinhan Financial Group by 7.3% during the fourth quarter. Morgan Stanley now owns 1,628,159 shares of the bank’s stock worth $45,475,000 after buying an additional 110,070 shares during the last quarter. Pzena Investment Management LLC increased its position in Shinhan Financial Group by 2.8% during the first quarter. Pzena Investment Management LLC now owns 889,229 shares of the bank’s stock worth $23,956,000 after buying an additional 24,353 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Shinhan Financial Group by 1.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 723,124 shares of the bank’s stock worth $20,197,000 after buying an additional 8,166 shares during the last quarter. Institutional investors and hedge funds own 2.57% of the company’s stock.

Shinhan Financial Group Company Profile

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Shinhan Financial Group Co, Ltd. engages in the provision of management and financial support services to its subsidiaries. The company was founded on September 1, 2001 and is headquartered in Seoul, South Korea.