Seeking Alpha: Shinhan Financial: A Great Korean Bank, And Priced Like It

Investors have gotten a little skittish about the prospects for an ongoing economic recovery in South Korea, as large exporters and sectors like property seem to be recovering but smaller businesses see more tepid results. That has stalled out the momentum in Korea's banking sector, but conservatively managed Shinhan Financial Group (SHG) continues to perform well from an internal operations standpoint. Although I see prospects for Shinhan to average a low teens earnings growth rate over the next five years, there just doesn't seem to be much value in the shares at this price.

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Shinhan Financial: A Great Korean Bank, And Priced Like It

Investopedia: Is Shinhan A Good Option For Investors Looking For Banking Performance?

Investors who want to put new money to work in the banking sector are finding a shrinking pool of good options out there. While there are a few banks here and there, like U.S. Bank (NYSE:USB), that still offer some solid long-term potential, most U.S. and Canadian bank stocks have caught up to their fundamental values and so many European banks are just a horror show of credit risk and low growth.

So what about emerging markets? Investors have started to worry about the growth outlook in Brazil, and the problems in Argentina have offered up a reminder that success in these markets can be fleeting. But Asia may be a different case. In particular, investors may want to consider the opportunity in Korea's leading bank Shinhan Financial Group (NYSE:SHG).

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