PNC Financial Services Group Inc. Boosts Stock Position in Shinhan Financial Group Co Ltd $SHG

PNC Financial Services Group Inc. increased its holdings in Shinhan Financial Group Co Ltd (NYSE:SHG) by 19.5% during the 2nd quarter, Holdings Channel reports. The firm owned 20,704 shares of the bank’s stock after buying an additional 3,373 shares during the period. PNC Financial Services Group Inc.’s holdings in Shinhan Financial Group were worth $935,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its holdings in Shinhan Financial Group by 1.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 27,509 shares of the bank’s stock worth $1,243,000 after buying an additional 308 shares during the period. AMG National Trust Bank raised its holdings in shares of Shinhan Financial Group by 0.9% during the second quarter. AMG National Trust Bank now owns 52,300 shares of the bank’s stock valued at $2,363,000 after acquiring an additional 455 shares in the last quarter. PDS Planning Inc lifted its stake in Shinhan Financial Group by 4.1% in the second quarter. PDS Planning Inc now owns 14,232 shares of the bank’s stock worth $643,000 after acquiring an additional 561 shares during the period. Invesco Ltd. boosted its holdings in Shinhan Financial Group by 1.7% in the first quarter. Invesco Ltd. now owns 39,492 shares of the bank’s stock valued at $1,267,000 after acquiring an additional 649 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Shinhan Financial Group by 8.2% in the first quarter. Bank of New York Mellon Corp now owns 8,994 shares of the bank’s stock valued at $289,000 after acquiring an additional 682 shares in the last quarter. Institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Trading Up 2.0%

Shares of NYSE SHG opened at $52.75 on Friday. Shinhan Financial Group Co Ltd has a 1 year low of $28.76 and a 1 year high of $56.00. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50-day moving average of $51.54 and a 200 day moving average of $47.53. The stock has a market cap of $25.61 billion, a P/E ratio of 5.29, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00.

Shinhan Financial Group (NYSE:SHG) last announced its quarterly earnings data on Friday, November 14th. The bank reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.08. Shinhan Financial Group had a net margin of 21.21% and a return on equity of 12.27%. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $3.79 billion. As a group, sell-side analysts expect that Shinhan Financial Group Co Ltd will post 5.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Zacks Research lowered shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Thursday, October 30th. Finally, Wall Street Zen lowered shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Profile

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.