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

Shinhan Financial Group Co Ltd (NYSE:SHG)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $68.25, but opened at $72.61. Shinhan Financial Group shares last traded at $71.1550, with a volume of 99,146 shares.

Analyst Upgrades and Downgrades

SHG has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Monday, December 29th. Zacks Research upgraded shares of Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Shinhan Financial Group Stock Performance

The stock has a market capitalization of $33.92 billion, a P/E ratio of 6.81, a PEG ratio of 0.54 and a beta of 1.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.51. The firm has a 50-day moving average of $55.99 and a 200 day moving average of $52.51.

Shinhan Financial Group (NYSE:SHG) last issued its earnings results on Friday, November 14th. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $3.79 billion. Research analysts anticipate that Shinhan Financial Group Co Ltd will post 5.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Shinhan Financial Group

Several large investors have recently made changes to their positions in SHG. Royal Bank of Canada increased its holdings in shares of Shinhan Financial Group by 9.1% during the first quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock worth $4,049,000 after buying an additional 10,534 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Shinhan Financial Group in the first quarter valued at $210,000. Millennium Management LLC raised its holdings in shares of Shinhan Financial Group by 152.0% in the first quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock valued at $18,689,000 after buying an additional 351,413 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Shinhan Financial Group by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock worth $10,376,000 after acquiring an additional 118,548 shares during the last quarter. Finally, US Bancorp DE increased its position in Shinhan Financial Group by 8.0% in the 2nd quarter. US Bancorp DE now owns 30,883 shares of the bank’s stock valued at $1,395,000 after acquiring an additional 2,280 shares in the last quarter. Institutional investors own 7.76% of the company’s stock.

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.