Shinhan Financial Group (NYSE:SHG) Shares Gap Up – Still a Buy?

Shinhan Financial Group Co., Ltd. (NYSE:SHG)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $34.14, but opened at $35.24. Shinhan Financial Group shares last traded at $35.04, with a volume of 21,073 shares.

Shinhan Financial Group Price Performance

The firm has a 50-day simple moving average of $38.95 and a 200-day simple moving average of $39.32. The firm has a market cap of $16.98 billion, a P/E ratio of 5.30, a PEG ratio of 0.57 and a beta of 0.92. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.53.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings data on Friday, October 25th. The bank reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.02. Shinhan Financial Group had a return on equity of 7.34% and a net margin of 12.21%. The company had revenue of $3.11 billion for the quarter. As a group, analysts forecast that Shinhan Financial Group Co., Ltd. will post 6.32 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Pathstone Holdings LLC increased its position in shares of Shinhan Financial Group by 103.9% during the third quarter. Pathstone Holdings LLC now owns 72,232 shares of the bank’s stock worth $3,060,000 after purchasing an additional 36,815 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Shinhan Financial Group by 191.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 21,032 shares of the bank’s stock worth $891,000 after buying an additional 13,808 shares during the last quarter. Creative Planning increased its position in Shinhan Financial Group by 21.4% during the 3rd quarter. Creative Planning now owns 121,758 shares of the bank’s stock valued at $5,159,000 after buying an additional 21,432 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Shinhan Financial Group by 117.8% in the third quarter. BNP Paribas Financial Markets now owns 27,573 shares of the bank’s stock valued at $1,168,000 after buying an additional 14,915 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Shinhan Financial Group in the second quarter worth about $2,332,000. Hedge funds and other institutional investors own 7.76% of the company’s stock.

About Shinhan Financial Group

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.