Shinhan Financial Group (NYSE:SHG) Shares Gap Down to $43.42

Shinhan Financial Group Co., Ltd. (NYSE:SHG) gapped down before the market opened on Friday . The stock had previously closed at $43.42, but opened at $41.97. Shinhan Financial Group shares last traded at $41.85, with a volume of 59,500 shares trading hands.

Analyst Ratings Changes

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

Shinhan Financial Group Price Performance

The firm has a market cap of $21.34 billion, a PE ratio of 6.90, a PEG ratio of 0.75 and a beta of 0.92. The firm has a fifty day simple moving average of $41.46 and a two-hundred day simple moving average of $36.93. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.02 and a current ratio of 1.02.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings data on Friday, July 26th. The bank reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.19. The business had revenue of $3.25 billion during the quarter. Shinhan Financial Group had a return on equity of 7.16% and a net margin of 12.23%. Equities analysts predict that Shinhan Financial Group Co., Ltd. will post 6.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Shinhan Financial Group

Institutional investors have recently modified their holdings of the stock. Orion Portfolio Solutions LLC lifted its stake in shares of Shinhan Financial Group by 43.6% in the 1st quarter. Orion Portfolio Solutions LLC now owns 78,315 shares of the bank’s stock valued at $2,779,000 after purchasing an additional 23,780 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Shinhan Financial Group by 2.7% in the 1st quarter. Lazard Asset Management LLC now owns 1,298,302 shares of the bank’s stock valued at $46,075,000 after purchasing an additional 34,597 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Shinhan Financial Group by 14.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 177,972 shares of the bank’s stock valued at $6,316,000 after purchasing an additional 22,536 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Shinhan Financial Group by 147.5% in the 1st quarter. Sei Investments Co. now owns 62,068 shares of the bank’s stock valued at $2,203,000 after purchasing an additional 36,993 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of 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 purchasing an additional 167,434 shares during the last quarter. 7.76% of the stock is owned by institutional investors.

Shinhan Financial Group Company Profile

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.