Shinhan Financial Group (NYSE:SHG) Shares Gap Down – Here’s What Happened

Shinhan Financial Group Co Ltd (NYSE:SHG) shares gapped down before the market opened on Wednesday . The stock had previously closed at $71.08, but opened at $68.65. Shinhan Financial Group shares last traded at $68.4750, with a volume of 27,713 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Zacks Research lowered shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings raised shares of Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Shinhan Financial Group presently has an average rating of “Moderate Buy”.

Shinhan Financial Group Trading Down 2.9%

The company’s 50 day moving average price is $65.93 and its 200 day moving average price is $61.57. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $32.77 billion, a PE ratio of 7.50, a price-to-earnings-growth ratio of 0.55 and a beta of 0.93.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings results on Tuesday, March 31st. The bank reported $1.98 earnings per share (EPS) for the quarter. Shinhan Financial Group had a net margin of 20.07% and a return on equity of 10.97%. As a group, analysts forecast that Shinhan Financial Group Co Ltd will post 7.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its stake in Shinhan Financial Group by 71.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Shinhan Financial Group in the fourth quarter worth approximately $38,000. Bell Investment Advisors Inc lifted its stake in Shinhan Financial Group by 31.3% in the first quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock worth $46,000 after acquiring an additional 178 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Shinhan Financial Group by 6,238.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock worth $44,000 after acquiring an additional 811 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Shinhan Financial Group by 1,465.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after acquiring an additional 850 shares during the last quarter. Hedge funds and other 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.