Shinhan Financial Group (NYSE:SHG) Stock Price Down 6.4% – Time to Sell?

Shinhan Financial Group Co., Ltd. (NYSE:SHG)’s stock price was down 6.4% on Thursday . The company traded as low as $35.43 and last traded at $35.61. Approximately 89,948 shares traded hands during trading, a decline of 31% from the average daily volume of 130,031 shares. The stock had previously closed at $38.03.

Shinhan Financial Group Stock Down 6.7 %

The company has a debt-to-equity ratio of 1.53, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s fifty day simple moving average is $40.52 and its two-hundred day simple moving average is $39.34. The company has a market capitalization of $17.86 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 0.63 and a beta of 0.92.

Shinhan Financial Group (NYSE:SHG) last released its quarterly earnings data 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. Shinhan Financial Group had a net margin of 12.21% and a return on equity of 7.34%. The business had revenue of $3.11 billion for the quarter. On average, sell-side analysts predict that Shinhan Financial Group Co., Ltd. will post 6.32 earnings per share for the current fiscal year.

Institutional Trading of Shinhan Financial Group

A number of hedge funds have recently bought and sold shares of SHG. Pzena Investment Management LLC lifted its stake in 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 valued at $37,684,000 after buying an additional 236,236 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Shinhan Financial Group by 21.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 486,976 shares of the bank’s stock valued at $20,633,000 after acquiring an additional 85,539 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Shinhan Financial Group during the third quarter valued at approximately $2,982,000. Marshall Wace LLP acquired a new position in Shinhan Financial Group during the second quarter valued at approximately $2,332,000. Finally, Summit Global Investments grew its holdings in Shinhan Financial Group by 79.3% during the second quarter. Summit Global Investments now owns 121,081 shares of the bank’s stock valued at $4,215,000 after purchasing an additional 53,545 shares during the last quarter. 7.76% of the stock is 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.