Shinhan Financial Group (NYSE:SHG) Shares Gap Up to $40.52

Shinhan Financial Group Co., Ltd. (NYSE:SHG) shares gapped up before the market opened on Friday . The stock had previously closed at $40.52, but opened at $42.25. Shinhan Financial Group shares last traded at $42.36, with a volume of 10,380 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Shinhan Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th.

Shinhan Financial Group Price Performance

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.50. The business’s 50-day simple moving average is $40.86 and its two-hundred day simple moving average is $36.48. The firm has a market cap of $21.46 billion, a price-to-earnings ratio of 6.96, a P/E/G ratio of 0.71 and a beta of 0.92.

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 company 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%. As a group, research analysts expect that Shinhan Financial Group Co., Ltd. will post 6.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SHG. Sanctuary Advisors LLC acquired a new stake in Shinhan Financial Group during the second quarter worth approximately $290,000. Clearbridge Investments LLC grew its position in shares of Shinhan Financial Group by 34.5% during the 2nd quarter. Clearbridge Investments LLC now owns 163,705 shares of the bank’s stock worth $5,699,000 after buying an additional 41,992 shares during the period. Creative Planning grew its position in shares of Shinhan Financial Group by 12.1% during the 2nd quarter. Creative Planning now owns 100,326 shares of the bank’s stock worth $3,492,000 after buying an additional 10,824 shares during the period. Marshall Wace LLP bought a new stake in shares of Shinhan Financial Group in the 2nd quarter valued at $2,332,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Shinhan Financial Group by 6.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,368 shares of the bank’s stock valued at $256,000 after acquiring an additional 445 shares during the period. 7.76% of the stock is 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.