Shinhan Financial Group (NYSE:SHG) Shares Gap Up – Still a Buy?

Shinhan Financial Group Co Ltd (NYSE:SHG) shares gapped up before the market opened on Thursday . The stock had previously closed at $62.52, but opened at $66.00. Shinhan Financial Group shares last traded at $67.2580, with a volume of 18,879 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SHG shares. Zacks Research cut shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research report 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 report on Tuesday, May 19th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Shinhan Financial Group currently has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Stock Performance

The stock has a 50 day simple moving average of $65.41 and a 200 day simple moving average of $62.35. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.43. The company has a market cap of $31.75 billion, a price-to-earnings ratio of 7.26, a PEG ratio of 0.56 and a beta of 0.94.

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

Institutional Trading of Shinhan Financial Group

Large investors have recently bought and sold shares of the company. Confluence Investment Management LLC lifted its position in shares of Shinhan Financial Group by 8.5% during the second quarter. Confluence Investment Management LLC now owns 6,290 shares of the bank’s stock worth $398,000 after purchasing an additional 491 shares in the last quarter. Parallel Advisors LLC grew its holdings in Shinhan Financial Group by 14.9% during the 1st quarter. Parallel Advisors LLC now owns 16,581 shares of the bank’s stock valued at $1,017,000 after purchasing an additional 2,146 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Shinhan Financial Group by 5.7% during the 1st quarter. NewEdge Advisors LLC now owns 13,349 shares of the bank’s stock valued at $819,000 after purchasing an additional 716 shares in the last quarter. Glenmede Trust Co. NA increased its stake in Shinhan Financial Group by 5.1% during the 1st quarter. Glenmede Trust Co. NA now owns 5,668 shares of the bank’s stock worth $348,000 after buying an additional 277 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Shinhan Financial Group by 56.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,417 shares of the bank’s stock worth $639,000 after buying an additional 3,757 shares during the period. Institutional investors and hedge funds 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.