Shinhan Financial Group (NYSE:SHG) Shares Gap Up – What’s Next?

Shinhan Financial Group Co., Ltd. (NYSE:SHG)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $34.14, but opened at $35.24. Shinhan Financial Group shares last traded at $35.04, with a volume of 21,073 shares traded.

Shinhan Financial Group Stock Performance

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 firm has a market cap of $17.55 billion, a P/E ratio of 5.36, a PEG ratio of 0.57 and a beta of 0.92. The stock’s 50 day moving average is $39.27 and its two-hundred day moving average is $39.40.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings data on Friday, October 25th. The bank reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.02. The firm 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 7.34%. As a group, equities analysts predict that Shinhan Financial Group Co., Ltd. will post 6.32 EPS for the current year.

Institutional Investors Weigh In On Shinhan Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHG. Fifth Third Bancorp acquired a new stake in Shinhan Financial Group in the second quarter worth about $107,000. Atomi Financial Group Inc. grew its holdings in Shinhan Financial Group by 22.4% during the 2nd quarter. Atomi Financial Group Inc. now owns 14,212 shares of the bank’s stock worth $495,000 after acquiring an additional 2,605 shares during the period. Atlas Capital Advisors LLC raised its position in shares of Shinhan Financial Group by 42.4% during the 2nd quarter. Atlas Capital Advisors LLC now owns 10,332 shares of the bank’s stock valued at $360,000 after acquiring an additional 3,074 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in shares of Shinhan Financial Group in the 2nd quarter valued at $887,000. Finally, Natixis Advisors LLC lifted its stake in shares of Shinhan Financial Group by 2.4% in the 2nd quarter. Natixis Advisors LLC now owns 86,576 shares of the bank’s stock valued at $3,014,000 after purchasing an additional 2,070 shares during the period. 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.