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

Shinhan Financial Group (NYSE:SHG) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Separately, Bank of America raised shares of Shinhan Financial Group from a “neutral” rating to a “buy” rating in a report on Tuesday, January 16th.

Shinhan Financial Group Price Performance

Shares of NYSE:SHG opened at $30.30 on Wednesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.02 and a quick ratio of 1.01. Shinhan Financial Group has a 1-year low of $24.99 and a 1-year high of $38.65. The company has a market capitalization of $15.43 billion, a P/E ratio of 5.19, a P/E/G ratio of 0.60 and a beta of 0.91. The firm’s 50 day simple moving average is $33.67 and its two-hundred day simple moving average is $30.10.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. American Century Companies Inc. increased its position in Shinhan Financial Group by 9.2% during the third quarter. American Century Companies Inc. now owns 514,638 shares of the bank’s stock valued at $13,633,000 after acquiring an additional 43,516 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Shinhan Financial Group by 147.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 95,773 shares of the bank’s stock valued at $2,537,000 after acquiring an additional 57,110 shares during the last quarter. M&T Bank Corp bought a new position in Shinhan Financial Group during the third quarter valued at $202,000. Ritholtz Wealth Management increased its position in Shinhan Financial Group by 28.8% during the fourth quarter. Ritholtz Wealth Management now owns 62,773 shares of the bank’s stock valued at $1,932,000 after acquiring an additional 14,025 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in Shinhan Financial Group by 6.7% during the third quarter. Acadian Asset Management LLC now owns 90,661 shares of the bank’s stock valued at $2,401,000 after acquiring an additional 5,676 shares during the last quarter. Institutional investors own 7.76% of the company’s stock.

About Shinhan Financial Group

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.