Shinhan Financial Group (NYSE:SHG) Posts Earnings Results, Beats Estimates By $0.17 EPS

Shinhan Financial Group (NYSE:SHG) issued its quarterly earnings results on Thursday. The bank reported $2.50 EPS for the quarter, beating the consensus estimate of $2.33 by $0.17, Zacks reports. Shinhan Financial Group had a net margin of 20.07% and a return on equity of 10.97%. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $2.86 billion.

Shinhan Financial Group Trading Up 1.9%

Shares of NYSE SHG opened at $71.98 on Friday. Shinhan Financial Group has a twelve month low of $46.26 and a twelve month high of $73.80. The firm has a market cap of $34.16 billion, a PE ratio of 7.83, a price-to-earnings-growth ratio of 0.56 and a beta of 0.94. The business has a fifty day simple moving average of $66.68 and a two-hundred day simple moving average of $64.32. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.43.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SHG. Weiss Ratings raised shares of Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Zacks Research downgraded Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHG. Lazard Asset Management LLC lifted its position in shares of Shinhan Financial Group by 6.0% in the 4th quarter. Lazard Asset Management LLC now owns 1,671,184 shares of the bank’s stock worth $89,626,000 after purchasing an additional 94,449 shares during the period. Northern Trust Corp raised its stake in Shinhan Financial Group by 0.5% in the third quarter. Northern Trust Corp now owns 1,498,706 shares of the bank’s stock worth $75,490,000 after buying an additional 7,518 shares in the last quarter. Bank of America Corp DE boosted its position in Shinhan Financial Group by 0.5% during the 3rd quarter. Bank of America Corp DE now owns 686,044 shares of the bank’s stock valued at $34,556,000 after acquiring an additional 3,709 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Shinhan Financial Group by 152.0% in 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 during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Shinhan Financial Group by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock worth $10,376,000 after acquiring an additional 118,548 shares in the last quarter. 7.76% of the stock is currently owned by institutional investors.

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.