MAI Capital Management Increases Stock Position in Shinhan Financial Group Co Ltd $SHG

MAI Capital Management grew its holdings in shares of Shinhan Financial Group Co Ltd (NYSE:SHG) by 12,359.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,987 shares of the bank’s stock after purchasing an additional 3,955 shares during the period. MAI Capital Management’s holdings in Shinhan Financial Group were worth $180,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SHG. Westside Investment Management Inc. purchased a new stake in shares of Shinhan Financial Group in the second quarter valued at approximately $47,000. Farther Finance Advisors LLC boosted its position in shares of Shinhan Financial Group by 240.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,908 shares of the bank’s stock worth $86,000 after purchasing an additional 1,348 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Shinhan Financial Group by 124.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,301 shares of the bank’s stock worth $149,000 after purchasing an additional 1,833 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Shinhan Financial Group in the 2nd quarter valued at about $177,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Shinhan Financial Group in the 2nd quarter valued at about $200,000. 7.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of Shinhan Financial Group in a research note on Monday. Finally, Zacks Research downgraded Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Shinhan Financial Group Stock Up 1.1%

Shares of NYSE SHG opened at $54.48 on Friday. The firm’s 50-day moving average is $51.87 and its two-hundred day moving average is $48.02. The company has a market capitalization of $26.45 billion, a PE ratio of 5.46, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00. Shinhan Financial Group Co Ltd has a 12-month low of $28.76 and a 12-month high of $56.00. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.03 and a quick ratio of 1.03.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings data on Friday, November 14th. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $3.79 billion. Equities 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.