Shinhan Financial Group (NYSE:SHG) Shares Gap Down – Time to Sell?

Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) 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 Up 2.4 %

The stock has a fifty day moving average of $40.85 and a 200-day moving average of $39.22. The company has a market cap of $20.51 billion, a PE ratio of 6.32, a PEG ratio of 0.65 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 posted 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. Shinhan Financial Group had a net margin of 12.21% and a return on equity of 7.34%. The firm had revenue of $3.11 billion for the quarter. Sell-side analysts anticipate that Shinhan Financial Group Co., Ltd. will post 6.32 EPS for the current fiscal year.

Institutional Trading of Shinhan Financial Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Pzena Investment Management LLC increased its holdings in Shinhan Financial Group by 27.9% during the 2nd quarter. Pzena Investment Management LLC now owns 1,082,552 shares of the bank’s stock worth $37,684,000 after purchasing an additional 236,236 shares during the period. American Century Companies Inc. increased its stake in shares of Shinhan Financial Group by 7.8% during the second quarter. American Century Companies Inc. now owns 646,749 shares of the bank’s stock valued at $22,513,000 after buying an additional 46,720 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Shinhan Financial Group by 21.3% in 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. Acadian Asset Management LLC lifted its stake in Shinhan Financial Group by 16.2% in the second quarter. Acadian Asset Management LLC now owns 319,186 shares of the bank’s stock worth $11,106,000 after acquiring an additional 44,402 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in Shinhan Financial Group by 34.5% during the 2nd quarter. Clearbridge Investments LLC now owns 163,705 shares of the bank’s stock worth $5,699,000 after acquiring an additional 41,992 shares in the last quarter. Institutional investors 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.