Shinhan Financial Group (NYSE:SHG) Shares Gap Down – Here’s Why

Shinhan Financial Group Co., Ltd. (NYSE:SHG)’s share price gapped down prior to trading on Friday . The stock had previously closed at $32.19, but opened at $31.36. Shinhan Financial Group shares last traded at $31.44, with a volume of 51,713 shares changing hands.

Shinhan Financial Group Stock Performance

The stock has a market capitalization of $15.95 billion, a P/E ratio of 4.97, a PEG ratio of 0.44 and a beta of 0.89. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.04 and a current ratio of 1.04. The company’s fifty day simple moving average is $33.91 and its two-hundred day simple moving average is $37.90.

Shinhan Financial Group (NYSE:SHG) last released its quarterly earnings results on Tuesday, March 4th. The bank reported $1.94 earnings per share for the quarter. The firm had revenue of $2.82 billion for the quarter. Shinhan Financial Group had a net margin of 12.21% and a return on equity of 7.34%. As a group, equities analysts forecast that Shinhan Financial Group Co., Ltd. will post 5.97 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio grew its position in shares of Shinhan Financial Group by 16.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 61,024 shares of the bank’s stock worth $2,006,000 after purchasing an additional 8,646 shares in the last quarter. Vise Technologies Inc. grew its position in shares of Shinhan Financial Group by 132.7% during the 4th quarter. Vise Technologies Inc. now owns 19,046 shares of the bank’s stock worth $626,000 after purchasing an additional 10,861 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Shinhan Financial Group during the 4th quarter worth approximately $2,991,000. Two Sigma Advisers LP acquired a new position in shares of Shinhan Financial Group during the 4th quarter worth approximately $296,000. Finally, Two Sigma Investments LP grew its position in shares of Shinhan Financial Group by 1,079.5% during the 4th quarter. Two Sigma Investments LP now owns 66,888 shares of the bank’s stock worth $2,199,000 after purchasing an additional 61,217 shares in the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

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.