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[Alpha Biz=(Chicago) Reporter Paul Lee] Kiwoom Securities raised the target price of Shinhan Holdings. This is in consideration of the upside potential of the share price net asset ratio (PBR) and the ability to strengthen shareholder returns.
Kiwoom Securities said, "Shinhan Holdings' consolidated net profit in the fourth quarter of last year was 549.7 billion won, which is better than expected considering the large-scale cost."
Kiwoom Securities raised its consolidated net profit growth rate to 11.4% this year. Considering the base effect of large-scale cost items and the increase in ordinary profits last year.
Last year, the shareholder return rate also rose 6 percentage points (p) year-on-year to 36 percent. Kiwoom Securities said Shinhan Holdings, which has a common stock capital ratio of 13.13%, also has the capacity to strengthen shareholder returns.
"Shinhan Group is making best practices in terms of shareholder-friendly policies, such as equalizing quarterly dividends and regularizing the purchase of its own shares, and plans to gradually raise its shareholder return rate in the future," Kiwoom Securities explained.
Kiwoom Securities raised its target price of Shinhan Holdings from 47,000 won to 56,000 won.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
