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

Shares of Shinhan Financial Group Co Ltd (NYSE:SHG) gapped down prior to trading on Tuesday . The stock had previously closed at $53.42, but opened at $51.73. Shinhan Financial Group shares last traded at $52.20, with a volume of 13,437 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on SHG shares. Weiss Ratings reissued a “buy (b)” rating on shares of Shinhan Financial Group in a report on Monday, December 15th. Zacks Research downgraded Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 2nd. Finally, Wall Street Zen downgraded shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Shinhan Financial Group currently has an average rating of “Hold”.

Shinhan Financial Group Stock Down 1.8%

The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s fifty day simple moving average is $53.08 and its two-hundred day simple moving average is $49.82. The stock has a market capitalization of $25.46 billion, a P/E ratio of 5.11, a price-to-earnings-growth ratio of 0.59 and a beta of 1.01.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings results on Friday, November 14th. The bank reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.08. Shinhan Financial Group had a net margin of 22.38% and a return on equity of 12.45%. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $3.79 billion. As a group, research analysts expect that Shinhan Financial Group Co Ltd will post 5.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Shinhan Financial Group

Institutional investors have recently made changes to their positions in the stock. Investment Research Partners LLC bought a new position in shares of Shinhan Financial Group during the third quarter worth about $757,000. Coldstream Capital Management Inc. acquired a new stake in Shinhan Financial Group during the 3rd quarter valued at approximately $359,000. NewEdge Advisors LLC increased its position in Shinhan Financial Group by 17.5% during the 3rd quarter. NewEdge Advisors LLC now owns 14,229 shares of the bank’s stock valued at $717,000 after purchasing an additional 2,123 shares during the period. United Capital Financial Advisors LLC raised its holdings in Shinhan Financial Group by 3.6% during the 3rd quarter. United Capital Financial Advisors LLC now owns 8,338 shares of the bank’s stock worth $420,000 after purchasing an additional 293 shares during the last quarter. Finally, Voleon Capital Management LP acquired a new position in shares of Shinhan Financial Group in the 3rd quarter worth approximately $2,961,000. Institutional investors own 7.76% of the company’s stock.

About Shinhan Financial Group

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.