Shinhan Financial Group (NYSE:SHG) Shares Gap Down to $41.86

Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) gapped down prior to trading on Wednesday . The stock had previously closed at $41.86, but opened at $39.89. Shinhan Financial Group shares last traded at $39.53, with a volume of 51,214 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th.

Shinhan Financial Group Price Performance

The company has a market cap of $20.27 billion, a price-to-earnings ratio of 6.56, a P/E/G ratio of 0.74 and a beta of 0.92. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.02 and a current ratio of 1.02. The company’s 50 day moving average price is $40.73 and its 200 day moving average price is $36.42.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings data on Friday, July 26th. The bank reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.19. The firm had revenue of $3.25 billion during the quarter. Shinhan Financial Group had a net margin of 12.23% and a return on equity of 7.16%. On average, equities research analysts predict that Shinhan Financial Group Co., Ltd. will post 6.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHG. QRG Capital Management Inc. raised its stake in shares of Shinhan Financial Group by 10.0% during the 4th quarter. QRG Capital Management Inc. now owns 13,869 shares of the bank’s stock worth $427,000 after purchasing an additional 1,262 shares in the last quarter. Quadrant Capital Group LLC increased its position in Shinhan Financial Group by 15.8% during the fourth quarter. Quadrant Capital Group LLC now owns 37,422 shares of the bank’s stock worth $1,152,000 after buying an additional 5,108 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Shinhan Financial Group by 2.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 19,063 shares of the bank’s stock valued at $587,000 after buying an additional 527 shares during the period. Corient Private Wealth LLC lifted its position in shares of Shinhan Financial Group by 3.7% in the fourth quarter. Corient Private Wealth LLC now owns 24,567 shares of the bank’s stock valued at $756,000 after buying an additional 881 shares during the last quarter. Finally, Trexquant Investment LP boosted its stake in shares of Shinhan Financial Group by 116.9% during the 4th quarter. Trexquant Investment LP now owns 16,967 shares of the bank’s stock worth $522,000 after acquiring an additional 9,144 shares during the period. 7.76% of the stock is currently owned by institutional investors.

Shinhan Financial Group Company Profile

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.