Shinhan Financial Group (NYSE:SHG) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Shinhan Financial Group Co Ltd (NYSE:SHG) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $66.90 and traded as high as $75.16. Shinhan Financial Group shares last traded at $75.0480, with a volume of 160,818 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Friday, August 14th. Zacks Research raised shares of Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to data from MarketBeat, Shinhan Financial Group currently has an average rating of “Strong Buy”.

Shinhan Financial Group Price Performance

The stock has a market cap of $36.32 billion, a PE ratio of 10.40, a P/E/G ratio of 0.57 and a beta of 0.94. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.98 and a quick ratio of 1.00. The business has a fifty day moving average of $70.40 and a 200 day moving average of $67.01.

Shinhan Financial Group (NYSE:SHG) last released its earnings results on Friday, August 14th. The bank reported $2.26 EPS for the quarter. The company had revenue of $2.96 billion during the quarter. Shinhan Financial Group had a return on equity of 8.63% and a net margin of 15.69%. Sell-side analysts anticipate that Shinhan Financial Group Co Ltd will post 8.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. lifted its holdings 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 buying an additional 200 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Shinhan Financial Group during the 4th quarter worth $38,000. Northwestern Mutual Wealth Management Co. boosted its holdings 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 acquiring an additional 850 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of 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 purchasing an additional 811 shares during the period. Finally, 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 purchasing an additional 178 shares during the last quarter. Hedge funds and other institutional investors 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.