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

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 Price Performance

The firm has a market cap of $19.85 billion, a P/E ratio of 6.11, a price-to-earnings-growth ratio of 0.64 and a beta of 0.93. 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 stock’s 50-day moving average is $40.96 and its 200-day moving average is $39.18.

Shinhan Financial Group (NYSE:SHG) last announced 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. The firm had revenue of $3.11 billion for the quarter. Shinhan Financial Group had a net margin of 12.21% and a return on equity of 7.34%. As a group, equities analysts anticipate that Shinhan Financial Group Co., Ltd. will post 6.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Shinhan Financial Group

Large investors have recently made changes to their positions in the company. FSC Wealth Advisors LLC bought a new stake in shares of Shinhan Financial Group in the 3rd quarter worth about $76,000. GAMMA Investing LLC lifted its position in 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 purchasing an additional 621 shares during the period. Fifth Third Bancorp acquired a new position in Shinhan Financial Group during the 2nd quarter valued at about $107,000. Waldron Private Wealth LLC acquired a new position in Shinhan Financial Group during the 3rd quarter valued at about $126,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Shinhan Financial Group by 34.5% during the 3rd 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 during the period. Institutional investors 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.