Shinhan Financial Group (NYSE:SHG) Shares Gap Up to $34.61

Shinhan Financial Group Co., Ltd. (NYSE:SHG) gapped up before the market opened on Tuesday . The stock had previously closed at $34.61, but opened at $35.70. Shinhan Financial Group shares last traded at $35.72, with a volume of 8,918 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, June 6th.

Shinhan Financial Group Price Performance

The stock has a 50-day moving average price of $34.24 and a 200 day moving average price of $32.72. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $18.19 billion, a price-to-earnings ratio of 5.71, a PEG ratio of 0.60 and a beta of 0.93.

Shinhan Financial Group (NYSE:SHG) last posted its earnings results on Thursday, May 16th. The bank reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.35. Shinhan Financial Group had a return on equity of 7.23% and a net margin of 12.76%. The business had revenue of $3.09 billion for the quarter. As a group, equities research analysts forecast that Shinhan Financial Group Co., Ltd. will post 6.21 earnings per share for the current fiscal year.

Institutional Trading of Shinhan Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brandes Investment Partners LP increased its position in Shinhan Financial Group by 54.3% in the 4th quarter. Brandes Investment Partners LP now owns 483,643 shares of the bank’s stock valued at $14,887,000 after acquiring an additional 170,135 shares during the period. Acadian Asset Management LLC increased its position in Shinhan Financial Group by 156.0% in the 1st quarter. Acadian Asset Management LLC now owns 274,784 shares of the bank’s stock valued at $9,749,000 after acquiring an additional 167,434 shares during the period. Ramirez Asset Management Inc. acquired a new position in Shinhan Financial Group in the 3rd quarter valued at about $4,407,000. Clearbridge Investments LLC increased its position in Shinhan Financial Group by 75.0% in the 1st quarter. Clearbridge Investments LLC now owns 121,713 shares of the bank’s stock valued at $4,320,000 after acquiring an additional 52,161 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Shinhan Financial Group by 51.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 131,410 shares of the bank’s stock valued at $3,481,000 after acquiring an additional 44,895 shares during the period. Institutional investors and hedge funds own 7.76% of the company’s stock.

About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.