Shinhan Financial Group (NYSE:SHG) Shares Down 4.1% – Here’s Why

Shinhan Financial Group Co., Ltd. (NYSE:SHG) shares fell 4.1% during trading on Friday . The stock traded as low as $38.47 and last traded at $38.62. Approximately 57,713 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 128,423 shares. The stock had previously closed at $40.26.

Shinhan Financial Group Stock Down 3.9 %

The stock has a market capitalization of $19.71 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. The business has a 50 day moving average of $40.79 and a two-hundred day moving average of $39.22.

Shinhan Financial Group (NYSE:SHG) last announced its quarterly earnings data on Friday, October 25th. The bank reported $1.76 EPS for the quarter, beating the consensus estimate of $1.74 by $0.02. The firm had revenue of $3.11 billion during the quarter. Shinhan Financial Group had a net margin of 12.21% and a return on equity of 7.34%. Analysts predict that Shinhan Financial Group Co., Ltd. will post 6.32 EPS for the current year.

Institutional Investors Weigh In On Shinhan Financial Group

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