Shinhan Financial Group (NYSE:SHG) Shares Gap Up to $40.52

Shinhan Financial Group Co., Ltd. (NYSE:SHG)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $40.52, but opened at $42.25. Shinhan Financial Group shares last traded at $42.36, with a volume of 10,380 shares traded.

Analyst Upgrades and Downgrades

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

Shinhan Financial Group Stock Performance

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.50. The company has a fifty day moving average price of $40.94 and a 200 day moving average price of $36.59. The stock has a market cap of $21.50 billion, a PE ratio of 6.95, a P/E/G ratio of 0.71 and a beta of 0.92.

Shinhan Financial Group (NYSE:SHG) last posted its earnings results on Friday, July 26th. The bank reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.19. Shinhan Financial Group had a net margin of 12.23% and a return on equity of 7.16%. The company had revenue of $3.25 billion during the quarter. Analysts expect that Shinhan Financial Group Co., Ltd. will post 6.22 earnings per share for the current year.

Institutional Investors Weigh In On Shinhan Financial Group

Several large investors have recently bought and sold shares of the business. Pzena Investment Management LLC boosted its position in shares of Shinhan Financial Group by 27.9% in the second quarter. Pzena Investment Management LLC now owns 1,082,552 shares of the bank’s stock worth $37,684,000 after purchasing an additional 236,236 shares during the period. Brandes Investment Partners LP lifted its position in Shinhan Financial Group by 54.3% during the fourth quarter. Brandes Investment Partners LP now owns 483,643 shares of the bank’s stock valued at $14,887,000 after purchasing an additional 170,135 shares during the last quarter. 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. Marshall Wace LLP purchased a new position in shares of Shinhan Financial Group during the second quarter valued at approximately $2,332,000. Finally, Summit Global Investments increased its stake in Shinhan Financial Group by 79.3% in the second quarter. Summit Global Investments now owns 121,081 shares of the bank’s stock worth $4,215,000 after purchasing an additional 53,545 shares during the period. 7.76% of the stock is currently 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.