Shinhan Financial Group (NYSE:SHG) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Shinhan Financial Group (NYSE:SHGFree Report) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Separately, Bank of America upgraded Shinhan Financial Group from a neutral rating to a buy rating in a research note on Tuesday, January 16th.

Read Our Latest Report on Shinhan Financial Group

Shinhan Financial Group Stock Performance

SHG opened at $32.95 on Thursday. Shinhan Financial Group has a 52-week low of $24.99 and a 52-week high of $33.98. The firm has a market capitalization of $16.90 billion, a PE ratio of 5.64, a PEG ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day simple moving average is $29.48 and its 200 day simple moving average is $27.77.

Institutional Trading of Shinhan Financial Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. M&T Bank Corp acquired a new position in shares of Shinhan Financial Group in the third quarter valued at approximately $202,000. Allworth Financial LP grew its position in shares of Shinhan Financial Group by 51.6% in the third quarter. Allworth Financial LP now owns 1,628 shares of the bank’s stock valued at $43,000 after purchasing an additional 554 shares during the last quarter. NewEdge Wealth LLC grew its position in shares of Shinhan Financial Group by 39.8% in the third quarter. NewEdge Wealth LLC now owns 38,291 shares of the bank’s stock valued at $1,014,000 after purchasing an additional 10,899 shares during the last quarter. Legacy Wealth Asset Management LLC grew its position in shares of Shinhan Financial Group by 143.4% in the third quarter. Legacy Wealth Asset Management LLC now owns 39,567 shares of the bank’s stock valued at $1,048,000 after purchasing an additional 23,314 shares during the last quarter. Finally, PDS Planning Inc grew its position in shares of Shinhan Financial Group by 5.0% in the third quarter. PDS Planning Inc now owns 13,416 shares of the bank’s stock valued at $355,000 after purchasing an additional 642 shares during the last quarter. Institutional investors own 2.81% of the company’s stock.

About Shinhan Financial Group

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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, Life 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.

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