Shinhan Financial Group (NYSE:SHG) Stock Passes Above 200 Day Moving Average – What’s Next?

Shinhan Financial Group Co Ltd (NYSE:SHG) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $54.47 and traded as high as $64.04. Shinhan Financial Group shares last traded at $63.78, with a volume of 359,446 shares.

Wall Street Analyst Weigh In

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

Shinhan Financial Group Stock Down 5.2%

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 company’s fifty day moving average price is $60.63 and its 200-day moving average price is $54.54. The stock has a market capitalization of $29.48 billion, a PE ratio of 5.91, a price-to-earnings-growth ratio of 0.51 and a beta of 0.97.

Institutional Trading of Shinhan Financial Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Brown Brothers Harriman & Co. grew its stake 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 purchasing an additional 200 shares during the period. Kestra Advisory Services LLC bought a new stake in Shinhan Financial Group during the fourth quarter valued at approximately $38,000. Northwestern Mutual Wealth Management Co. grew its position in Shinhan Financial Group by 1,465.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock valued at $41,000 after buying an additional 850 shares during the period. TD Private Client Wealth LLC purchased a new stake in Shinhan Financial Group during the third quarter valued at approximately $42,000. Finally, Caitong International Asset Management Co. Ltd raised its position 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 period. 7.76% of the stock is currently owned by institutional investors.

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.