Shinhan Financial Group (NYSE:SHG) Shares Down 2.5%

Shinhan Financial Group Co., Ltd. (NYSE:SHG) shares traded down 2.5% during mid-day trading on Friday . The stock traded as low as $42.15 and last traded at $42.15. 11,055 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 123,465 shares. The stock had previously closed at $43.23.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th.

Shinhan Financial Group Trading Down 2.5 %

The business’s 50 day moving average price is $39.34 and its two-hundred day moving average price is $35.80. The company has a market capitalization of $21.46 billion, a price-to-earnings ratio of 7.12, a P/E/G ratio of 0.73 and a beta of 0.93. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.50.

Shinhan Financial Group (NYSE:SHG) last posted its earnings results on Friday, July 26th. The bank reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.19. Shinhan Financial Group had a net margin of 12.97% and a return on equity of 7.58%. The firm had revenue of $3.25 billion for the quarter. On average, equities analysts predict that Shinhan Financial Group Co., Ltd. will post 6.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shinhan Financial Group

Several hedge funds have recently added to or reduced their stakes in the business. Orion Portfolio Solutions LLC raised its stake in shares of Shinhan Financial Group by 43.6% during the first quarter. Orion Portfolio Solutions LLC now owns 78,315 shares of the bank’s stock valued at $2,779,000 after acquiring an additional 23,780 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Shinhan Financial Group by 2.7% in the first quarter. Lazard Asset Management LLC now owns 1,298,302 shares of the bank’s stock valued at $46,075,000 after purchasing an additional 34,597 shares during the period. O Shaughnessy Asset Management LLC raised its position in Shinhan Financial Group by 14.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 177,972 shares of the bank’s stock worth $6,316,000 after purchasing an additional 22,536 shares during the last quarter. Sei Investments Co. grew its position in shares of Shinhan Financial Group by 147.5% in the 1st quarter. Sei Investments Co. now owns 62,068 shares of the bank’s stock valued at $2,203,000 after buying an additional 36,993 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Shinhan Financial Group by 156.0% in the 1st quarter. Acadian Asset Management LLC now owns 274,784 shares of the bank’s stock valued at $9,749,000 after buying an additional 167,434 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors and hedge funds.

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.