Zacks Investment Research cut shares of Shinhan Financial Group (NYSE:SHG) from a strong-buy rating to a hold rating in a report published on Tuesday 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. “

Shinhan Financial Group (SHG) opened at $47.81 on Tuesday. The company has a market capitalization of $22,296.84, a price-to-earnings ratio of 4.10, a PEG ratio of 1.61 and a beta of 1.08. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.47. Shinhan Financial Group has a fifty-two week low of $36.78 and a fifty-two week high of $48.98.

Several institutional investors and hedge funds have recently modified their holdings of SHG. BNP Paribas Arbitrage SA grew its holdings in Shinhan Financial Group by 48.3% during the second quarter. BNP Paribas Arbitrage SA now owns 3,493 shares of the bank’s stock worth $152,000 after acquiring an additional 1,137 shares during the period. Airain ltd grew its holdings in Shinhan Financial Group by 8.8% during the second quarter. Airain ltd now owns 5,831 shares of the bank’s stock worth $254,000 after acquiring an additional 474 shares during the period. GRATRY & Co LLC acquired a new position in Shinhan Financial Group during the second quarter worth about $263,000. Dynamic Technology Lab Private Ltd acquired a new position in Shinhan Financial Group during the second quarter worth about $298,000. Finally, Virtu KCG Holdings LLC grew its holdings in Shinhan Financial Group by 34.4% during the second quarter. Virtu KCG Holdings LLC now owns 6,905 shares of the bank’s stock worth $300,000 after acquiring an additional 1,766 shares during the period. 2.25% of the stock is currently owned by institutional investors.

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Shinhan Financial Group Company Profile

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.

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