Zacks: Shinhan Financial Group Co., Ltd. (SHG) Receives Average Rating of “Strong Buy” from Brokerages

Shinhan Financial Group Co., Ltd. (NYSE:SHG) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Brokers have set a 1 year consensus price objective of $56.00 for the company, according to Zacks. Zacks has also assigned Shinhan Financial Group an industry rank of 183 out of 255 based on the ratings given to related companies.

Separately, Zacks Investment Research cut Shinhan Financial Group from a “hold” rating to a “sell” rating in a research note on Friday.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank grew its stake in shares of Shinhan Financial Group by 1.0% in the fourth quarter. Comerica Bank now owns 28,336 shares of the bank’s stock worth $1,074,000 after purchasing an additional 283 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Shinhan Financial Group by 0.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 60,490 shares of the bank’s stock worth $2,147,000 after buying an additional 492 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Shinhan Financial Group by 6.6% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 17,926 shares of the bank’s stock worth $636,000 after buying an additional 1,112 shares during the period. Legacy Financial Advisors Inc. lifted its holdings in Shinhan Financial Group by 2,296.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 1,246 shares of the bank’s stock worth $44,000 after buying an additional 1,194 shares during the period. Finally, Nordea Investment Management AB purchased a new stake in Shinhan Financial Group in the fourth quarter worth about $47,000. 2.44% of the stock is currently owned by institutional investors.

Shares of NYSE SHG traded up $0.47 during trading hours on Friday, hitting $40.22. The company’s stock had a trading volume of 68,599 shares, compared to its average volume of 115,679. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $19.07 billion, a PE ratio of 7.02, a PEG ratio of 0.84 and a beta of 0.91. Shinhan Financial Group has a 12 month low of $34.02 and a 12 month high of $45.35.

About Shinhan Financial Group

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.

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