ValuEngine Downgrades Shinhan Financial Group (NYSE:SHG) to Hold

ValuEngine downgraded shares of Shinhan Financial Group (NYSE:SHG) from a buy rating to a hold rating in a research report report published on Wednesday, May 2nd.

Separately, Zacks Investment Research upgraded shares of Shinhan Financial Group from a hold rating to a buy rating and set a $48.00 target price on the stock in a research note on Tuesday, April 24th.

Shinhan Financial Group opened at $44.48 on Wednesday, according to Marketbeat Ratings. Shinhan Financial Group has a 12 month low of $44.67 and a 12 month high of $44.69. The company has a market cap of $21.29 billion, a price-to-earnings ratio of 3.85, a PEG ratio of 1.72 and a beta of 1.22. The company has a current ratio of 1.07, a quick ratio of 1.17 and a debt-to-equity ratio of 1.58.

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in shares of Shinhan Financial Group by 82.2% during the first quarter. BNP Paribas Arbitrage SA now owns 4,691 shares of the bank’s stock valued at $199,000 after buying an additional 2,117 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in shares of Shinhan Financial Group during the first quarter valued at approximately $207,000. Signaturefd LLC bought a new stake in shares of Shinhan Financial Group during the fourth quarter valued at approximately $244,000. Citadel Advisors LLC bought a new stake in shares of Shinhan Financial Group during the fourth quarter valued at approximately $268,000. Finally, LSV Asset Management raised its position in shares of Shinhan Financial Group by 845.5% during the first quarter. LSV Asset Management now owns 10,400 shares of the bank’s stock valued at $440,000 after buying an additional 9,300 shares during the last quarter. Hedge funds and other institutional investors own 2.44% 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 Banking, Credit Card, Securities, Life Insurance, and Others segments. Its retail banking services include mortgage and home equity, and retail lending products; demand, savings, and fixed deposit-taking; checking accounts, and electronic banking and automatic teller machine (ATM) services; and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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