Brokerages Set $43.00 Target Price for Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) have been given a consensus broker rating score of 4.00 (Sell) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a sell recommendation. Shinhan Financial Group’s rating score has declined by 300% from 90 days ago as a result of a number of analysts’ ratings changes.

Analysts have set a 1-year consensus price objective of $43.00 for the company, according to Zacks. Zacks has also assigned Shinhan Financial Group an industry rank of 218 out of 256 based on the ratings given to its competitors.

SHG has been the subject of several analyst reports. Bank of America cut shares of NIO from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $6.20 to $3.00 in a research note on Tuesday, May 28th. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Wednesday, June 5th. Finally, ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.

Shinhan Financial Group stock traded up $0.14 during midday trading on Friday, hitting $37.52. The company’s stock had a trading volume of 661 shares, compared to its average volume of 60,090. Shinhan Financial Group has a 1-year low of $34.02 and a 1-year high of $41.79. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.09 and a current ratio of 1.09. The company has a 50-day simple moving average of $38.25. The company has a market capitalization of $17.33 billion, a P/E ratio of 3.13, a price-to-earnings-growth ratio of 1.79 and a beta of 0.81.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings data on Tuesday, May 21st. The bank reported $3.45 earnings per share for the quarter. Shinhan Financial Group had a net margin of 18.62% and a return on equity of 12.82%. The business had revenue of $3.03 billion during the quarter. As a group, equities research analysts forecast that Shinhan Financial Group will post 5.75 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Covenant Multifamily Offices LLC acquired a new stake in Shinhan Financial Group in the 1st quarter worth about $25,000. Alera Investment Advisors LLC raised its position in shares of Shinhan Financial Group by 64.5% in the 1st quarter. Alera Investment Advisors LLC now owns 936 shares of the bank’s stock valued at $35,000 after buying an additional 367 shares in the last quarter. Nordea Investment Management AB acquired a new position in shares of Shinhan Financial Group in the 4th quarter valued at approximately $47,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Shinhan Financial Group in the 1st quarter valued at approximately $56,000. Finally, Parallel Advisors LLC raised its position in shares of Shinhan Financial Group by 1,021.8% in the 1st quarter. Parallel Advisors LLC now owns 1,750 shares of the bank’s stock valued at $65,000 after buying an additional 1,594 shares in the last quarter. Institutional investors and hedge funds own 2.85% of the company’s stock.

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.

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