NH Investment & Securities stock faces lower target after Q3 beat
Published on 11/11/2026 at 02:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSWhat shaped the brokerage outlook
- Third-quarter net income attributable to controlling shareholders rose year over year despite weaker brokerage and wealth-management fees.
- Investment and trading income provided the main support as the domestic equity market contracted.
- Lower expected trading volumes may limit near-term catalysts across South Korea's securities sector.
NH Investment & Securities delivered a third-quarter earnings beat despite weaker trading activity, according to Financial News. The report, published on October 27, said SK Securities maintained its Buy rating while cutting its target price for the brokerage from 44,000 won to 32,000 won.
Earnings held above expectations
Net income attributable to controlling shareholders rose 35.5 percent year over year to 383.6 billion won in the third quarter. The result was 21.6 percent below the previous quarter but 4.3 percent above market expectations, as investment and trading income offset pressure on fee-based businesses.
Investment and trading income reached 201 billion won, up 56.7 percent from a year earlier. The report attributed the resilience partly to a conservative approach that shortened bond duration ahead of possible interest-rate increases.
Trading weakness remains a risk
Average daily trading value fell 36.2 percent from the previous quarter to 75.3 trillion won. Brokerage commission revenue dropped 46.7 percent quarter over quarter to 266 billion won, while wealth-management fee income declined 52.2 percent to 46 billion won as sales of target-conversion wrap products slowed.
SK Securities also lowered its forecasts for average daily trading value to 83.9 trillion won for the current year and 58 trillion won for the following year. That outlook points to limited near-term catalysts for securities stocks, even as disciplined risk management supports NH Investment & Securities' earnings profile.
Business model and competitive position
NH Investment & Securities is a South Korean financial-services company offering brokerage, wealth-management, investment-banking and trading services. Its business spans retail and institutional capital-market activities, with fee income complemented by investment results. The earnings profile described by SK Securities highlights a diversified model, but also shows its sensitivity to domestic trading volumes and market conditions.
NH Investment & Securities at a glance
- Company: NH Investment & Securities Co., Ltd.
- Headquarters: Seoul, South Korea
- Third-quarter net income: 383.6 billion won attributable to controlling shareholders
- Target price: 32,000 won according to SK Securities
South Korean securities stocks remain tied to broader equity-market conditions; investors can follow the current market reports for the wider setting.
