Shinhan Financial Group (NYSE:SHG) Sees Unusually-High Trading Volume – Here’s What Happened

Shinhan Financial Group Co Ltd (NYSE:SHG) saw unusually-strong trading volume on Friday . Approximately 679,616 shares were traded during mid-day trading, an increase of 229% from the previous session’s volume of 206,420 shares.The stock last traded at $53.5550 and had previously closed at $54.10.

Analyst Ratings Changes

Several analysts have issued reports on SHG shares. Zacks Research cut Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Shinhan Financial Group Stock Down 0.9%

The stock has a market capitalization of $26.02 billion, a PE ratio of 5.21, a price-to-earnings-growth ratio of 0.58 and a beta of 1.01. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.51. The company’s 50-day moving average is $53.76 and its 200 day moving average is $51.02.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings results on Friday, November 14th. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.08. Shinhan Financial Group had a net margin of 22.38% and a return on equity of 12.45%. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $3.79 billion. As a group, analysts anticipate that Shinhan Financial Group Co Ltd will post 5.97 EPS for the current year.

Institutional Trading of Shinhan Financial Group

Several large investors have recently added to or reduced their stakes in SHG. TD Private Client Wealth LLC purchased a new position in shares of Shinhan Financial Group in the third quarter worth about $42,000. Northwestern Mutual Wealth Management Co. increased its holdings in Shinhan Financial Group by 1,465.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after buying an additional 850 shares during the period. Westside Investment Management Inc. purchased a new position in Shinhan Financial Group during the 2nd quarter worth approximately $47,000. Osaic Holdings Inc. raised its position in Shinhan Financial Group by 387.3% during the 2nd quarter. Osaic Holdings Inc. now owns 1,306 shares of the bank’s stock worth $59,000 after buying an additional 1,038 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Shinhan Financial Group by 3,831.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,887 shares of the bank’s stock valued at $95,000 after acquiring an additional 1,839 shares during the period. Hedge funds and other institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Company Profile

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company’s principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.