Brokerages Set $40.00 Target Price for Shinhan Financial Group Co. (SHG)
Shares of Shinhan Financial Group Co. (NYSE:SHG) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokers have set a 12 month consensus price target of $40.00 for the company, according to Zacks. Zacks has also given Shinhan Financial Group an industry rank of 43 out of 265 based on the ratings given to its competitors.
A number of institutional investors have recently modified their holdings of SHG. US Bancorp DE raised its position in shares of Shinhan Financial Group by 37.4% in the second quarter. US Bancorp DE now owns 3,456 shares of the company’s stock worth $113,000 after buying an additional 941 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Shinhan Financial Group during the second quarter worth approximately $229,000. BNP Paribas Arbitrage SA purchased a new position in shares of Shinhan Financial Group during the third quarter worth approximately $274,000. Trexquant Investment LP purchased a new position in shares of Shinhan Financial Group during the second quarter worth approximately $276,000. Finally, Stevens Capital Management LP raised its position in shares of Shinhan Financial Group by 40.2% in the second quarter. Stevens Capital Management LP now owns 9,760 shares of the company’s stock worth $320,000 after buying an additional 2,799 shares in the last quarter. Hedge funds and other institutional investors own 2.17% of the company’s stock.
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Shares of Shinhan Financial Group (NYSE:SHG) traded down 2.56% during mid-day trading on Thursday, hitting $36.23. The stock had a trading volume of 16,036 shares. Shinhan Financial Group has a 12-month low of $29.08 and a 12-month high of $39.76. The stock has a market cap of $17.18 billion, a P/E ratio of 7.84 and a beta of 1.31. The company’s 50 day moving average price is $36.35 and its 200 day moving average price is $35.05.
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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