Shinhan Financial Group (NYSE:SHG) Sets New 12-Month High at $43.95

Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $43.95 and last traded at $43.91, with a volume of 6056 shares changing hands. The stock had previously closed at $43.76.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Shinhan Financial Group from a "buy" rating to a "hold" rating in a report on Thursday, June 6th.

Shinhan Financial Group Stock Up 0.3 %

The company has a market cap of $22.36 billion, a price-to-earnings ratio of 7.23, a P/E/G ratio of 0.73 and a beta of 0.93. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.50. The business has a fifty day moving average price of $38.27 and a two-hundred day moving average price of $35.38.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last issued its earnings results on Friday, July 26th. The bank reported $1.97 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.19. The company had revenue of $3.25 billion for the quarter. Shinhan Financial Group had a return on equity of 7.58% and a net margin of 12.97%. On average, equities analysts predict that Shinhan Financial Group Co., Ltd. will post 6.22 earnings per share for the current year.

Hedge Funds Weigh In On Shinhan Financial Group

A number of hedge funds have recently added to or reduced their stakes in the company. Caprock Group LLC increased its holdings in Shinhan Financial Group by 2.1% in the second quarter. Caprock Group LLC now owns 13,785 shares of the bank's stock worth $480,000 after buying an additional 286 shares during the last quarter. Profund Advisors LLC increased its holdings in Shinhan Financial Group by 3.5% in the second quarter. Profund Advisors LLC now owns 9,537 shares of the bank's stock worth $332,000 after buying an additional 323 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Shinhan Financial Group by 27.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,612 shares of the bank's stock worth $50,000 after buying an additional 349 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Shinhan Financial Group by 6.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,224 shares of the bank's stock worth $251,000 after buying an additional 421 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Shinhan Financial Group by 6.4% in the second quarter. EverSource Wealth Advisors LLC now owns 7,368 shares of the bank's stock worth $256,000 after buying an additional 445 shares during the last quarter. Institutional investors and hedge funds own 7.76% of the company's stock.

About Shinhan Financial Group

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.