Shinhan Financial Group (NYSE:SHG) Trading Down 5.3% – Time to Sell?

Shares of Shinhan Financial Group Co Ltd (NYSE:SHG) were down 5.3% during trading on Monday . The stock traded as low as $63.56 and last traded at $63.64. Approximately 35,315 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 281,823 shares. The stock had previously closed at $67.17.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SHG shares. Weiss Ratings raised shares of Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Zacks Research cut shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Shinhan Financial Group currently has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Price Performance

The stock’s fifty day moving average price is $65.16 and its two-hundred day moving average price is $60.89. The firm has a market capitalization of $30.33 billion, a price-to-earnings ratio of 6.94, a price-to-earnings-growth ratio of 0.53 and a beta of 0.93. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.54.

Shinhan Financial Group (NYSE:SHG) last announced its quarterly earnings data on Tuesday, March 31st. The bank reported $1.98 earnings per share for the quarter. Shinhan Financial Group had a net margin of 20.07% and a return on equity of 11.02%. Equities research analysts expect that Shinhan Financial Group Co Ltd will post 7.99 EPS for the current year.

Institutional Investors Weigh In On Shinhan Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its stake in Shinhan Financial Group by 9.1% during the 1st quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock worth $4,049,000 after acquiring an additional 10,534 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Shinhan Financial Group during the 1st quarter worth $210,000. Millennium Management LLC raised its stake in Shinhan Financial Group by 152.0% during the 1st quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock worth $18,689,000 after acquiring an additional 351,413 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Shinhan Financial Group by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock worth $10,376,000 after acquiring an additional 118,548 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Shinhan Financial Group by 1,465.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after acquiring an additional 850 shares in the last quarter. 7.76% of the stock is currently owned by institutional investors and hedge funds.

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.