Shinhan Financial Group Co., Ltd. (NYSE:SHG – Get Free Report)’s share price gapped up prior to trading on Monday . The stock had previously closed at $41.90, but opened at $43.14. Shinhan Financial Group shares last traded at $42.95, with a volume of 34,838 shares.
Analysts Set New Price Targets
Separately, StockNews.com cut shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, June 6th.
Check Out Our Latest Report on Shinhan Financial Group
Shinhan Financial Group Stock Performance
Shinhan Financial Group (NYSE:SHG – Get Free Report) last announced its earnings results on Thursday, May 16th. The bank reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.35. The business had revenue of $3.09 billion during the quarter. Shinhan Financial Group had a return on equity of 7.23% and a net margin of 12.76%. Equities analysts anticipate that Shinhan Financial Group Co., Ltd. will post 6.21 EPS for the current fiscal year.
Hedge Funds Weigh In On Shinhan Financial Group
A number of hedge funds and other institutional investors have recently made changes to their positions in SHG. GAMMA Investing LLC acquired a new stake in Shinhan Financial Group in the 4th quarter valued at about $29,000. Allspring Global Investments Holdings LLC increased its holdings in Shinhan Financial Group by 27.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,612 shares of the bank’s stock worth $50,000 after buying an additional 349 shares during the last quarter. SageView Advisory Group LLC acquired a new position in Shinhan Financial Group during the first quarter worth $61,000. Janiczek Wealth Management LLC increased its holdings in shares of Shinhan Financial Group by 44.0% in the fourth quarter. Janiczek Wealth Management LLC now owns 2,305 shares of the bank’s stock valued at $71,000 after purchasing an additional 704 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of Shinhan Financial Group in the second quarter valued at about $107,000. 7.76% of the stock is owned by 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.
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