Shinhan Financial Group (NYSE:SHG) Stock Price Down 5.3% – Here’s What Happened

Shinhan Financial Group Co Ltd (NYSE:SHG) shares traded down 5.3% during mid-day trading on Monday . The stock traded as low as $63.56 and last traded at $63.64. 35,315 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 281,823 shares. The stock had previously closed at $67.17.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings upgraded Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Zacks Research downgraded Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Trading Up 3.3%

The business has a 50-day moving average price of $65.33 and a two-hundred day moving average price of $61.07. The stock has a market capitalization of $31.33 billion, a P/E ratio of 7.17, a P/E/G ratio of 0.50 and a beta of 0.93. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.54.

Shinhan Financial Group (NYSE:SHG) last released its earnings results on Tuesday, March 31st. The bank reported $1.98 earnings per share for the quarter. Shinhan Financial Group had a return on equity of 11.02% and a net margin of 20.07%. On average, analysts expect that Shinhan Financial Group Co Ltd will post 7.99 EPS for the current fiscal year.

Institutional Trading of Shinhan Financial Group

Institutional investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. lifted its position in shares of Shinhan Financial Group by 71.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock valued at $26,000 after acquiring an additional 200 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Shinhan Financial Group during the 4th quarter worth $38,000. Bell Investment Advisors Inc lifted its position in shares of Shinhan Financial Group by 31.3% during the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock worth $46,000 after buying an additional 178 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Shinhan Financial Group by 6,238.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock worth $44,000 after buying an additional 811 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Shinhan Financial Group by 1,465.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after buying an additional 850 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors.

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.