Shinhan Financial Group (NYSE:SHG) Hits New 52-Week High – What’s Next?

Shinhan Financial Group Co Ltd (NYSE:SHG)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $55.67 and last traded at $55.59, with a volume of 34491 shares trading hands. The stock had previously closed at $53.70.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Thursday, October 30th. Zacks Research downgraded shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, Wall Street Zen cut Shinhan Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Shinhan Financial Group Stock Up 2.9%

The firm has a market cap of $26.84 billion, a P/E ratio of 5.54, a PEG ratio of 0.56 and a beta of 1.00. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.48. The company’s 50 day simple moving average is $50.65 and its 200-day simple moving average is $46.71.

Hedge Funds Weigh In On Shinhan Financial Group

A number of hedge funds have recently made changes to their positions in SHG. Corient Private Wealth LLC lifted its holdings in Shinhan Financial Group by 1.1% during the 2nd quarter. Corient Private Wealth LLC now owns 20,076 shares of the bank’s stock worth $907,000 after buying an additional 213 shares during the last quarter. Savant Capital LLC grew its stake in shares of Shinhan Financial Group by 3.5% in the third quarter. Savant Capital LLC now owns 6,221 shares of the bank’s stock worth $313,000 after purchasing an additional 213 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of Shinhan Financial Group by 3.0% during the third quarter. Quantbot Technologies LP now owns 8,027 shares of the bank’s stock valued at $404,000 after acquiring an additional 232 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Shinhan Financial Group by 3.7% during the third quarter. EverSource Wealth Advisors LLC now owns 7,732 shares of the bank’s stock worth $389,000 after acquiring an additional 279 shares during the period. Finally, AMG National Trust Bank boosted its holdings in Shinhan Financial Group by 0.6% during the third quarter. AMG National Trust Bank now owns 52,591 shares of the bank’s stock worth $2,649,000 after buying an additional 291 shares in the last quarter. Institutional investors own 7.76% 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 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.