Shinhan Financial Group (NYSE:SHG) Sees Large Volume Increase – Still a Buy?

Shinhan Financial Group Co., Ltd. (NYSE:SHG) shares saw unusually-high trading volume on Wednesday . Approximately 75,638 shares were traded during trading, a decline of 40% from the previous session’s volume of 125,476 shares.The stock last traded at $41.46 and had previously closed at $41.51.

Shinhan Financial Group Price Performance

The firm has a market cap of $21.24 billion, a price-to-earnings ratio of 6.84, a PEG ratio of 0.74 and a beta of 0.92. 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’s 50-day moving average price is $42.11 and its 200-day moving average price is $37.44.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings results on Friday, July 26th. The bank reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.19. The business had revenue of $3.25 billion for the quarter. Shinhan Financial Group had a net margin of 12.23% and a return on equity of 7.16%. On average, equities research analysts forecast that Shinhan Financial Group Co., Ltd. will post 6.22 EPS for the current year.

Hedge Funds Weigh In On Shinhan Financial Group

Hedge funds have recently modified their holdings of the business. Caprock Group LLC raised its stake in Shinhan Financial Group by 2.1% in the 2nd quarter. Caprock Group LLC now owns 13,785 shares of the bank’s stock valued at $480,000 after purchasing an additional 286 shares during the last quarter. Profund Advisors LLC raised its position in shares of Shinhan Financial Group by 3.5% in the 2nd quarter. Profund Advisors LLC now owns 9,537 shares of the bank’s stock valued at $332,000 after purchasing an additional 323 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Shinhan Financial Group by 6.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,224 shares of the bank’s stock valued at $251,000 after purchasing an additional 421 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Shinhan Financial Group by 6.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,368 shares of the bank’s stock valued at $256,000 after acquiring an additional 445 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Shinhan Financial Group by 2.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,063 shares of the bank’s stock valued at $587,000 after acquiring an additional 527 shares in the last quarter. 7.76% of the stock is currently owned by hedge funds and other institutional investors.

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.