Zacks Investment Research downgraded shares of Shinhan Financial Group Co Ltd (NYSE:SHG) from a strong-buy rating to a hold rating in a research note released on Thursday morning.

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. “

Separately, HSBC Holdings plc raised Shinhan Financial Group Co from a hold rating to a buy rating in a report on Tuesday, August 22nd.

Shares of Shinhan Financial Group Co (NYSE SHG) opened at 45.55 on Thursday. Shinhan Financial Group Co has a 12 month low of $35.64 and a 12 month high of $48.98. The firm has a market capitalization of $21.60 billion, a price-to-earnings ratio of 7.71 and a beta of 1.09. The firm has a 50-day moving average price of $45.90 and a 200 day moving average price of $44.04.

ILLEGAL ACTIVITY WARNING: “Shinhan Financial Group Co Ltd (SHG) Rating Lowered to Hold at Zacks Investment Research” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://www.thecerbatgem.com/2017/09/25/shinhan-financial-group-co-ltd-shg-rating-lowered-to-hold-at-zacks-investment-research.html.

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA lifted its position in shares of Shinhan Financial Group Co by 48.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,493 shares of the bank’s stock worth $152,000 after buying an additional 1,137 shares during the period. US Bancorp DE lifted its position in shares of Shinhan Financial Group Co by 5.8% during the 1st quarter. US Bancorp DE now owns 3,919 shares of the bank’s stock worth $164,000 after buying an additional 215 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Shinhan Financial Group Co during the 1st quarter worth approximately $201,000. KCG Holdings Inc. bought a new position in Shinhan Financial Group Co in the 1st quarter valued at $215,000. Finally, Airain ltd bought a new position in Shinhan Financial Group Co in the 1st quarter valued at $224,000. Institutional investors and hedge funds own 2.32% of the company’s stock.

About Shinhan Financial Group Co

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.

Get a free copy of the Zacks research report on Shinhan Financial Group Co (SHG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Stock Ratings for Shinhan Financial Group Co Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shinhan Financial Group Co Ltd and related stocks with our FREE daily email newsletter.