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

Shinhan Financial Group Co., Ltd. (NYSE:SHG) gapped down before the market opened on Tuesday . The stock had previously closed at $38.86, but opened at $37.18. Shinhan Financial Group shares last traded at $37.76, with a volume of 73,184 shares traded.

Shinhan Financial Group Price Performance

The firm has a market capitalization of $19.44 billion, a P/E ratio of 6.10, a PEG ratio of 0.63 and a beta of 0.92. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.53. The business’s 50 day moving average is $40.66 and its 200-day moving average is $39.32.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings results on Friday, October 25th. The bank reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.02. Shinhan Financial Group had a return on equity of 7.34% and a net margin of 12.21%. The company had revenue of $3.11 billion for the quarter. As a group, sell-side analysts predict that Shinhan Financial Group Co., Ltd. will post 6.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Shinhan Financial Group

Several hedge funds and other institutional investors have recently made changes to their positions in SHG. FSC Wealth Advisors LLC bought a new stake in shares of Shinhan Financial Group during the third quarter worth $76,000. GAMMA Investing LLC boosted its holdings in shares of Shinhan Financial Group by 45.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,988 shares of the bank’s stock valued at $84,000 after acquiring an additional 621 shares in the last quarter. Fifth Third Bancorp bought a new stake in Shinhan Financial Group during the 2nd quarter worth $107,000. Waldron Private Wealth LLC bought a new position in Shinhan Financial Group in the third quarter valued at about $126,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Shinhan Financial Group by 34.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,079 shares of the bank’s stock valued at $130,000 after purchasing an additional 789 shares in the last quarter. 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.