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

Shinhan Financial Group Co., Ltd. (NYSE:SHG) shares gapped down before the market opened on Tuesday . The stock had previously closed at $40.04, but opened at $38.83. Shinhan Financial Group shares last traded at $38.93, with a volume of 20,938 shares.

Shinhan Financial Group Trading Down 2.7 %

The firm has a fifty day moving average price of $40.96 and a 200 day moving average price of $39.18. The company has a market cap of $19.85 billion, a price-to-earnings ratio of 6.11, a P/E/G ratio of 0.64 and a beta of 0.93. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.04 and a current ratio of 1.04.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings results on Friday, October 25th. The bank reported $1.76 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 return on equity of 7.34% and a net margin of 12.21%. As a group, equities analysts predict that Shinhan Financial Group Co., Ltd. will post 6.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Shinhan Financial Group

Institutional investors have recently added to or reduced their stakes in the business. Pathstone Holdings LLC increased its holdings in shares of Shinhan Financial Group by 103.9% during the third quarter. Pathstone Holdings LLC now owns 72,232 shares of the bank’s stock valued at $3,060,000 after acquiring an additional 36,815 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Shinhan Financial Group by 191.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 21,032 shares of the bank’s stock valued at $891,000 after buying an additional 13,808 shares in the last quarter. Blue Trust Inc. grew its stake in Shinhan Financial Group by 90.6% in the 2nd quarter. Blue Trust Inc. now owns 24,850 shares of the bank’s stock valued at $882,000 after buying an additional 11,815 shares in the last quarter. Creative Planning grew its position in shares of Shinhan Financial Group by 21.4% during the 3rd quarter. Creative Planning now owns 121,758 shares of the bank’s stock valued at $5,159,000 after purchasing an additional 21,432 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Shinhan Financial Group in the second quarter worth $2,332,000. 7.76% of the stock is owned by institutional investors and hedge funds.

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.