Shinhan Financial Group (NYSE:SHG) Shares Gap Down – Should You Sell?

Shinhan Financial Group Co., Ltd. (NYSE:SHG) gapped down prior to trading on Friday . The stock had previously closed at $39.69, but opened at $38.40. Shinhan Financial Group shares last traded at $38.21, with a volume of 17,687 shares.

Shinhan Financial Group Stock Down 3.7 %

The firm has a market capitalization of $19.46 billion, a P/E ratio of 6.00, a P/E/G ratio of 0.64 and a beta of 0.93. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.50. The company has a 50 day simple moving average of $41.25 and a two-hundred day simple moving average of $38.90.

Shinhan Financial Group (NYSE:SHG) last issued its earnings results on Friday, October 25th. The bank reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.02. The firm had revenue of $3.11 billion during the quarter. Shinhan Financial Group had a net margin of 12.21% and a return on equity of 7.24%. On average, equities analysts predict that Shinhan Financial Group Co., Ltd. will post 6.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Shinhan Financial Group

Large investors have recently made changes to their positions in the company. SageView Advisory Group LLC purchased a new position in Shinhan Financial Group during the 1st quarter valued at approximately $61,000. FSC Wealth Advisors LLC purchased a new position in shares of Shinhan Financial Group in the third quarter valued at $76,000. Allspring Global Investments Holdings LLC increased its position in Shinhan Financial Group by 42.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,290 shares of the bank’s stock worth $81,000 after purchasing an additional 678 shares during the last quarter. GAMMA Investing LLC raised its stake in Shinhan Financial Group by 45.4% during the third quarter. GAMMA Investing LLC now owns 1,988 shares of the bank’s stock valued at $84,000 after purchasing an additional 621 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in Shinhan Financial Group during the second quarter valued at $107,000. 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.