Frank Rimerman Advisors LLC Takes Position in Shinhan Financial Group Co Ltd $SHG

Frank Rimerman Advisors LLC bought a new position in Shinhan Financial Group Co Ltd (NYSE:SHG) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,464 shares of the bank’s stock, valued at approximately $518,000.

Other institutional investors have also recently bought and sold shares of the company. Ranmore Fund Management Ltd acquired a new position in shares of Shinhan Financial Group in the 1st quarter valued at $15,687,000. Millennium Management LLC boosted its position in shares of Shinhan Financial Group by 152.0% during the 1st quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock valued at $18,689,000 after acquiring an additional 351,413 shares in the last quarter. Causeway Capital Management LLC increased its stake in Shinhan Financial Group by 56.6% in the first quarter. Causeway Capital Management LLC now owns 509,806 shares of the bank’s stock valued at $16,355,000 after acquiring an additional 184,167 shares during the period. Goldman Sachs Group Inc. raised its position in Shinhan Financial Group by 57.9% in the first quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock worth $10,376,000 after purchasing an additional 118,548 shares in the last quarter. Finally, Creative Planning raised its position in Shinhan Financial Group by 70.3% in the second quarter. Creative Planning now owns 162,873 shares of the bank’s stock worth $7,359,000 after purchasing an additional 67,223 shares in the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Shinhan Financial Group Stock Performance

NYSE:SHG opened at $52.63 on Thursday. The stock has a market capitalization of $25.55 billion, a P/E ratio of 5.27, a price-to-earnings-growth 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. Shinhan Financial Group Co Ltd has a 1 year low of $28.76 and a 1 year high of $56.00. The firm has a 50 day moving average of $51.41 and a 200-day moving average of $47.39.

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

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.