Shinhan Financial Group (NYSE:SHG) Shares Gap Up to $39.34

Shinhan Financial Group Co., Ltd. (NYSE:SHG)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $39.34, but opened at $40.50. Shinhan Financial Group shares last traded at $40.51, with a volume of 20,689 shares changing hands.

Analysts Set New Price Targets

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

Shinhan Financial Group Price Performance

The company’s fifty day moving average is $37.41 and its 200 day moving average is $34.99. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.49. The firm has a market cap of $20.86 billion, a price-to-earnings ratio of 6.75, a PEG ratio of 0.70 and a beta of 0.93.

Shinhan Financial Group (NYSE:SHG) last released its earnings results on Thursday, May 16th. The bank reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.35. Shinhan Financial Group had a return on equity of 7.23% and a net margin of 12.76%. The business had revenue of $3.09 billion for the quarter. On average, equities research analysts predict that Shinhan Financial Group Co., Ltd. will post 6.22 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Caprock Group LLC increased its holdings in Shinhan Financial Group by 2.1% during the second quarter. Caprock Group LLC now owns 13,785 shares of the bank’s stock worth $480,000 after buying an additional 286 shares during the last quarter. Profund Advisors LLC grew its position in shares of Shinhan Financial Group by 3.5% in the 2nd quarter. Profund Advisors LLC now owns 9,537 shares of the bank’s stock valued at $332,000 after acquiring an additional 323 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Shinhan Financial Group by 27.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,612 shares of the bank’s stock worth $50,000 after purchasing an additional 349 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Shinhan Financial Group by 6.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,224 shares of the bank’s stock valued at $251,000 after purchasing an additional 421 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Shinhan Financial Group by 6.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,368 shares of the bank’s stock valued at $256,000 after purchasing an additional 445 shares during the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

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.