Shinhan Financial Group (NYSE:SHG) Shares Gap Up to $40.52

Shinhan Financial Group Co., Ltd. (NYSE:SHG) gapped up prior to trading on Friday . The stock had previously closed at $40.52, but opened at $42.25. Shinhan Financial Group shares last traded at $42.36, with a volume of 10,380 shares trading hands.

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 Stock Up 4.0 %

The stock has a 50-day moving average of $40.86 and a 200 day moving average of $36.48. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $21.46 billion, a P/E ratio of 6.96, a PEG ratio of 0.71 and a beta of 0.92.

Shinhan Financial Group (NYSE:SHG) last released its earnings results on Friday, July 26th. The bank reported $1.97 EPS for the quarter, beating the consensus estimate of $1.78 by $0.19. The firm had revenue of $3.25 billion for the quarter. Shinhan Financial Group had a net margin of 12.23% and a return on equity of 7.16%. Research analysts anticipate that Shinhan Financial Group Co., Ltd. will post 6.22 earnings per share for the current year.

Institutional Trading of Shinhan Financial Group

Several institutional investors and hedge funds have recently modified their holdings of SHG. Lazard Asset Management LLC boosted its position 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 buying an additional 34,597 shares in the last quarter. Pzena Investment Management LLC grew its holdings in shares of Shinhan Financial Group by 27.9% during the second 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 last quarter. American Century Companies Inc. raised its holdings in Shinhan Financial Group by 7.8% in the 2nd 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 last quarter. Brandes Investment Partners LP increased its position in Shinhan Financial Group by 54.3% in the 4th quarter. Brandes Investment Partners LP now owns 483,643 shares of the bank’s stock valued at $14,887,000 after acquiring an additional 170,135 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Shinhan Financial Group by 16.2% during the second quarter. Acadian Asset Management LLC now owns 319,186 shares of the bank’s stock valued at $11,106,000 after acquiring an additional 44,402 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors.

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.