Shinhan Financial Group (SHG) Rating Lowered to Hold at Zacks Investment Research

Shinhan Financial Group (NYSE:SHG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.

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. “

Shinhan Financial Group (SHG) opened at $46.40 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.47. Shinhan Financial Group has a 1-year low of $36.78 and a 1-year high of $48.98. The stock has a market capitalization of $22,002.83, a PE ratio of 3.98, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08.

Several large investors have recently added to or reduced their stakes in SHG. Schwab Charles Investment Management Inc. lifted its holdings in shares of Shinhan Financial Group by 18.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 309,332 shares of the bank’s stock valued at $13,453,000 after purchasing an additional 48,316 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Shinhan Financial Group during the 2nd quarter valued at about $358,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Shinhan Financial Group by 48.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,493 shares of the bank’s stock valued at $152,000 after purchasing an additional 1,137 shares in the last quarter. Marshall Wace North America L.P. lifted its holdings in shares of Shinhan Financial Group by 48.6% during the 2nd quarter. Marshall Wace North America L.P. now owns 17,714 shares of the bank’s stock valued at $762,000 after purchasing an additional 5,794 shares in the last quarter. Finally, Airain ltd lifted its holdings in shares of Shinhan Financial Group by 8.8% during the 2nd quarter. Airain ltd now owns 5,831 shares of the bank’s stock valued at $254,000 after purchasing an additional 474 shares in the last quarter. Institutional investors and hedge funds own 2.25% of the company’s stock.

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About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. (SFG) is a financial holding company. The Company operates through five segments: commercial banking services, which are provided by Shinhan Bank Co, Ltd. (Shinhan Bank); credit card services, which are provided by Shinhan Card Co, Ltd. (Shinhan Card); securities brokerage services, which are provided by Shinhan Investment Corp.

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