JPMorgan Chase & Co. Lowers Shinhan Financial Group (NYSE:SHG) to Neutral

Shinhan Financial Group (NYSE:SHG) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Monday, The Fly reports.

SHG has been the subject of several other research reports. Bank of America cut shares of Shinhan Financial Group from a “neutral” rating to an “underperform” rating in a report on Tuesday, May 28th. Zacks Investment Research upgraded shares of Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a research note on Saturday, July 27th. Finally, ValuEngine cut shares of Shinhan Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $44.00.

SHG traded down $0.92 during trading hours on Monday, hitting $34.37. 253,769 shares of the company’s stock were exchanged, compared to its average volume of 69,710. Shinhan Financial Group has a 12-month low of $34.02 and a 12-month high of $41.79. The stock’s 50 day moving average price is $37.91. The stock has a market cap of $16.61 billion, a price-to-earnings ratio of 2.87, a P/E/G ratio of 1.71 and a beta of 0.84. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.09 and a current ratio of 1.09.

Shinhan Financial Group (NYSE:SHG) last announced its earnings results on Tuesday, May 21st. The bank reported $3.45 earnings per share for the quarter. Shinhan Financial Group had a net margin of 18.62% and a return on equity of 12.82%. The firm had revenue of $3.03 billion for the quarter. Analysts predict that Shinhan Financial Group will post 5.75 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of SHG. Covenant Multifamily Offices LLC acquired a new stake in Shinhan Financial Group during the 1st quarter worth $25,000. Alera Investment Advisors LLC raised its position in Shinhan Financial Group by 64.5% during the 1st quarter. Alera Investment Advisors LLC now owns 936 shares of the bank’s stock worth $35,000 after buying an additional 367 shares during the last quarter. Nordea Investment Management AB purchased a new position in Shinhan Financial Group during the 4th quarter worth $47,000. Mizuho Securities Co. Ltd. purchased a new position in Shinhan Financial Group during the 1st quarter worth $56,000. Finally, Parallel Advisors LLC raised its position in Shinhan Financial Group by 1,021.8% during the 1st quarter. Parallel Advisors LLC now owns 1,750 shares of the bank’s stock worth $65,000 after buying an additional 1,594 shares during the last quarter. Hedge funds and other institutional investors own 2.84% 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 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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