Shinhan Financial Group (SHG) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Shinhan Financial Group (NYSE:SHG) from a buy rating to a hold rating in a research note published on Saturday morning.

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. “

Several other analysts also recently commented on the stock. Bank of America raised shares of Shinhan Financial Group from a neutral rating to a buy rating in a research report on Thursday, August 30th. Credit Suisse Group assumed coverage on shares of Shinhan Financial Group in a research report on Tuesday, October 23rd. They issued an outperform rating for the company. Finally, ValuEngine raised shares of Shinhan Financial Group from a strong sell rating to a sell rating in a research report on Saturday, September 22nd.



Shinhan Financial Group stock opened at $37.15 on Friday. The company has a market capitalization of $18.19 billion, a price-to-earnings ratio of 3.24, a P/E/G ratio of 1.55 and a beta of 1.05. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.64. Shinhan Financial Group has a twelve month low of $36.35 and a twelve month high of $50.37.

Shinhan Financial Group (NYSE:SHG) last released its quarterly earnings data on Tuesday, August 14th. The bank reported $3.66 earnings per share for the quarter. The firm had revenue of $2.33 billion for the quarter. Shinhan Financial Group had a net margin of 17.31% and a return on equity of 8.45%. Equities research analysts forecast that Shinhan Financial Group will post 5.68 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of SHG. BlackRock Inc. grew its position in Shinhan Financial Group by 16.2% in the first quarter. BlackRock Inc. now owns 504,015 shares of the bank’s stock worth $21,372,000 after acquiring an additional 70,434 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Shinhan Financial Group by 82.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,691 shares of the bank’s stock worth $199,000 after acquiring an additional 2,117 shares in the last quarter. UBS Group AG grew its position in Shinhan Financial Group by 15.4% in the first quarter. UBS Group AG now owns 68,488 shares of the bank’s stock worth $2,905,000 after acquiring an additional 9,164 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in Shinhan Financial Group in the first quarter worth approximately $207,000. Finally, Royal Bank of Canada grew its position in Shinhan Financial Group by 1.6% in the first quarter. Royal Bank of Canada now owns 102,268 shares of the bank’s stock worth $4,336,000 after acquiring an additional 1,623 shares in the last quarter. 2.50% of the stock is owned by institutional investors.

Shinhan Financial Group Company Profile

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through five segments: Banking, Credit Cards, Securities, Life Insurance, and Others. It offers retail banking services, including mortgage and home equity, and retail lending; demand, savings, and fixed deposit-taking; checking accounts; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.

See Also: Cash Flow

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