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

Shares of 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 Price Performance

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’s fifty day moving average is $41.33 and its two-hundred day moving average is $38.87. The stock has a market cap of $19.45 billion, a price-to-earnings ratio of 6.00, a P/E/G ratio of 0.64 and a beta of 0.93.

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

Institutional Investors Weigh In On Shinhan Financial Group

Large investors have recently modified their holdings of the company. SageView Advisory Group LLC purchased a new stake in shares of Shinhan Financial Group during the 1st quarter worth approximately $61,000. FSC Wealth Advisors LLC purchased a new position in shares of Shinhan Financial Group during the 3rd quarter worth approximately $76,000. Allspring Global Investments Holdings LLC lifted its holdings 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 valued at $81,000 after acquiring an additional 678 shares during the period. GAMMA Investing LLC boosted its holdings in Shinhan Financial Group by 45.4% during the third quarter. GAMMA Investing LLC now owns 1,988 shares of the bank’s stock worth $84,000 after buying an additional 621 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of Shinhan Financial Group during the 2nd quarter worth approximately $107,000. 7.76% of the stock is owned by hedge funds and other 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.