EverSource Wealth Advisors LLC Purchases 988 Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG)

EverSource Wealth Advisors LLC increased its position in Shinhan Financial Group Co., Ltd. (NYSE:SHG) by 16.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,923 shares of the bank’s stock after purchasing an additional 988 shares during the period. EverSource Wealth Advisors LLC’s holdings in Shinhan Financial Group were worth $234,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ballentine Partners LLC boosted its holdings in Shinhan Financial Group by 23.8% during the 4th quarter. Ballentine Partners LLC now owns 23,836 shares of the bank’s stock worth $734,000 after acquiring an additional 4,583 shares during the last quarter. BSW Wealth Partners boosted its holdings in shares of Shinhan Financial Group by 33.4% in the 4th quarter. BSW Wealth Partners now owns 10,562 shares of the bank’s stock worth $325,000 after buying an additional 2,645 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Shinhan Financial Group by 27.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,612 shares of the bank’s stock worth $50,000 after buying an additional 349 shares during the last quarter. Aaron Wealth Advisors LLC purchased a new position in shares of Shinhan Financial Group in the 4th quarter worth about $210,000. Finally, Cerity Partners LLC boosted its holdings in shares of Shinhan Financial Group by 20.8% in the 4th quarter. Cerity Partners LLC now owns 24,706 shares of the bank’s stock worth $760,000 after buying an additional 4,253 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Shinhan Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th.

Shinhan Financial Group Price Performance

Shares of NYSE SHG traded down $2.21 during midday trading on Friday, hitting $40.96. 93,159 shares of the company’s stock were exchanged, compared to its average volume of 113,462. Shinhan Financial Group Co., Ltd. has a 12-month low of $25.09 and a 12-month high of $43.93. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.49. The company has a market cap of $20.86 billion, a price-to-earnings ratio of 6.75, a PEG ratio of 0.76 and a beta of 0.93. The business’s fifty day moving average price is $36.49 and its two-hundred day moving average price is $34.36.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings data on Thursday, May 16th. The bank reported $1.89 EPS for the quarter, topping the consensus estimate of $1.54 by $0.35. Shinhan Financial Group had a return on equity of 7.23% and a net margin of 12.76%. The company had revenue of $3.09 billion during the quarter. As a group, research analysts forecast that Shinhan Financial Group Co., Ltd. will post 6.22 EPS for the current fiscal year.

About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.