Shinhan Financial Group (SHG) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Shinhan Financial Group (NYSE:SHG) from a hold rating to a strong sell rating in a report released on Friday, July 27th.

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. “

Separately, ValuEngine lowered shares of Shinhan Financial Group from a hold rating to a sell rating in a report on Saturday, June 2nd.

Shinhan Financial Group traded down $0.77, hitting $37.73, during mid-day trading on Friday, Marketbeat Ratings reports. 75,540 shares of the company were exchanged, compared to its average volume of 81,849. The firm has a market cap of $18.26 billion, a P/E ratio of 3.29, a P/E/G ratio of 1.57 and a beta of 1.10. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.07 and a quick ratio of 1.06. Shinhan Financial Group has a twelve month low of $36.54 and a twelve month high of $50.37.

Shinhan Financial Group (NYSE:SHG) last announced its quarterly earnings data on Tuesday, May 15th. The bank reported $3.24 earnings per share for the quarter. Shinhan Financial Group had a net margin of 17.23% and a return on equity of 8.32%. The company had revenue of $2.82 billion during the quarter. sell-side analysts expect that Shinhan Financial Group will post 5.62 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of SHG. BNP Paribas Arbitrage SA raised its holdings in shares of Shinhan Financial Group by 82.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,691 shares of the bank’s stock worth $199,000 after purchasing an additional 2,117 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Shinhan Financial Group during the first quarter valued at approximately $207,000. Advisor Partners LLC acquired a new stake in shares of Shinhan Financial Group during the second quarter valued at approximately $223,000. US Bancorp DE raised its holdings in shares of Shinhan Financial Group by 38.0% during the second quarter. US Bancorp DE now owns 7,334 shares of the bank’s stock valued at $282,000 after acquiring an additional 2,020 shares during the period. Finally, Citadel Advisors LLC raised its holdings in shares of Shinhan Financial Group by 47.0% during the first quarter. Citadel Advisors LLC now owns 8,488 shares of the bank’s stock valued at $360,000 after acquiring an additional 2,712 shares during the period. 2.49% of the stock is owned by institutional investors and hedge funds.

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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