Brokerages Set $52.00 Target Price for Shinhan Financial Group Co Ltd (NYSE:SHG)

Shinhan Financial Group Co Ltd (NYSE:SHG) has received an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Brokers have set a 1-year consensus price target of $52.00 for the company, according to Zacks. Zacks has also given Shinhan Financial Group Co an industry rank of 77 out of 265 based on the ratings given to its competitors.

Separately, Zacks Investment Research lowered Shinhan Financial Group Co from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th.

Several large investors have recently added to or reduced their stakes in SHG. Capstone Asset Management Co. increased its stake in Shinhan Financial Group Co by 3.8% in the first quarter. Capstone Asset Management Co. now owns 71,414 shares of the bank’s stock worth $2,984,000 after buying an additional 2,630 shares during the period. Candriam Luxembourg S.C.A. purchased a new stake in Shinhan Financial Group Co during the first quarter worth approximately $2,182,000. FMR LLC increased its stake in Shinhan Financial Group Co by 10.7% in the fourth quarter. FMR LLC now owns 30,811 shares of the bank’s stock worth $1,160,000 after buying an additional 2,981 shares during the period. Russell Investments Group Ltd. purchased a new stake in Shinhan Financial Group Co during the fourth quarter worth approximately $262,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Shinhan Financial Group Co by 2.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,844 shares of the bank’s stock worth $328,000 after buying an additional 170 shares during the period. 2.34% of the stock is owned by hedge funds and other institutional investors.

Shinhan Financial Group Co (NYSE:SHG) opened at 47.44 on Tuesday. The company has a market cap of $22.50 billion, a PE ratio of 8.58 and a beta of 1.06. Shinhan Financial Group Co has a 1-year low of $34.91 and a 1-year high of $47.53. The firm’s 50-day moving average is $44.05 and its 200 day moving average is $42.28.

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About Shinhan Financial Group Co

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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