Shinhan Financial Group (NYSE:SHG) Shares Gap Down – What’s Next?

Shinhan Financial Group Co Ltd (NYSE:SHG)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $71.08, but opened at $68.65. Shinhan Financial Group shares last traded at $68.4750, with a volume of 27,713 shares.

Analyst Upgrades and Downgrades

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

Shinhan Financial Group Trading Down 1.1%

The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.43. The business has a 50 day simple moving average of $66.12 and a two-hundred day simple moving average of $61.76. The stock has a market cap of $31.72 billion, a price-to-earnings ratio of 7.26, a price-to-earnings-growth ratio of 0.60 and a beta of 0.93.

Shinhan Financial Group (NYSE:SHG) last released its earnings results 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 10.97%. As a group, equities analysts anticipate that Shinhan Financial Group Co Ltd will post 7.99 EPS for the current year.

Institutional Trading of Shinhan Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of SHG. Brown Brothers Harriman & Co. raised its holdings in shares of Shinhan Financial Group by 71.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock worth $26,000 after purchasing an additional 200 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Shinhan Financial Group in the 4th quarter valued at about $38,000. Northwestern Mutual Wealth Management Co. grew its position in shares of 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 valued at $41,000 after buying an additional 850 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Shinhan Financial Group by 6,238.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock valued at $44,000 after buying an additional 811 shares during the last quarter. Finally, Bell Investment Advisors Inc raised its stake in Shinhan Financial Group by 31.3% during the first quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock worth $46,000 after acquiring an additional 178 shares during the period. 7.76% of the stock is owned by institutional investors.

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.