Shinhan Financial Group Co., Ltd. (NYSE:SHG – Get Free Report) 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 traded.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th.
Get Our Latest Report on Shinhan Financial Group
Shinhan Financial Group Price Performance
Shinhan Financial Group (NYSE:SHG – Get Free Report) last posted its quarterly earnings data on Friday, July 26th. The bank reported $1.97 EPS for the quarter, topping the consensus estimate 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. As a group, research analysts anticipate that Shinhan Financial Group Co., Ltd. will post 6.22 EPS for the current fiscal year.
Institutional Trading of Shinhan Financial Group
Several institutional investors and hedge funds have recently made changes to their positions in SHG. Pzena Investment Management LLC lifted its position in shares of Shinhan Financial Group by 27.9% during 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 last quarter. Acadian Asset Management LLC lifted its position in shares of Shinhan Financial Group by 156.0% during the first quarter. Acadian Asset Management LLC now owns 274,784 shares of the bank’s stock worth $9,749,000 after purchasing an additional 167,434 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Shinhan Financial Group during the second quarter worth $2,332,000. Summit Global Investments lifted its position in shares of Shinhan Financial Group by 79.3% during 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 last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Shinhan Financial Group by 75.0% during the first quarter. Clearbridge Investments LLC now owns 121,713 shares of the bank’s stock worth $4,320,000 after purchasing an additional 52,161 shares during the last quarter. 7.76% of the stock is currently owned by 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.
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