Shinhan Financial Group (NYSE:SHG) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Shinhan Financial Group (NYSE:SHG) released its earnings results on Friday. The bank reported $2.21 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.06), Zacks reports. Shinhan Financial Group had a net margin of 19.89% and a return on equity of 10.87%.

Shinhan Financial Group Trading Down 1.8%

SHG stock traded down $1.16 during midday trading on Friday, hitting $64.21. 172,290 shares of the company’s stock were exchanged, compared to its average volume of 286,981. The stock’s fifty day moving average price is $64.17 and its 200-day moving average price is $59.67. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $30.48 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 0.50 and a beta of 0.97. Shinhan Financial Group has a one year low of $37.13 and a one year high of $73.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. lifted its holdings in Shinhan Financial Group by 71.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Shinhan Financial Group during the fourth quarter worth about $38,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Shinhan Financial Group by 1,465.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after acquiring an additional 850 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Shinhan Financial Group by 6,238.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock worth $44,000 after acquiring an additional 811 shares in the last quarter. Finally, Van ECK Associates Corp bought a new position in Shinhan Financial Group during the fourth quarter worth about $56,000. 7.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings cut Shinhan Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, April 27th. Zacks Research cut Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

About Shinhan Financial Group

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company’s principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.