Shinhan Financial Group (NYSE:SHG) Shares Gap Down - Time to Sell?

Key Points

• SHG shares fell sharply at the open, dropping from a prior close of $81.79 to $79.10 and last trading near $77.88.
• Analyst sentiment remains mixed: Weiss Ratings reiterated a “Buy,” while Zacks Research downgraded the stock to “Hold.” MarketBeat reports an overall “Moderate Buy” rating.
• Shinhan Financial Group reported $2.26 in quarterly earnings per share and $2.96 billion in revenue; analysts expect full-year EPS of $8.53. Institutional investors own 7.76% of the company.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report) shares gapped down before the market opened on Wednesday. The stock had previously closed at $81.79, but opened at $79.10. Shinhan Financial Group shares last traded at $77.8790, with a volume of 33,590 shares trading hands.

Analyst Ratings Changes

SHG has been the topic of a number of research reports. Weiss Ratings restated a "buy (b)" rating on shares of Shinhan Financial Group in a report on Friday, August 14th. Zacks Research cut Shinhan Financial Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Shinhan Financial Group currently has an average rating of "Moderate Buy".

Shinhan Financial Group Stock Performance

The company has a market capitalization of $36.16 billion, a P/E ratio of 10.34, a PEG ratio of 0.61 and a beta of 0.96. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.45. The stock has a fifty day simple moving average of $77.15 and a 200-day simple moving average of $69.65.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The bank reported $2.26 earnings per share for the quarter. The company had revenue of $2.96 billion during the quarter. Shinhan Financial Group had a net margin of 15.69% and a return on equity of 8.63%. Equities analysts forecast that Shinhan Financial Group Co Ltd will post 8.53 EPS for the current year.

Institutional Trading of Shinhan Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bell Investment Advisors Inc raised its position in shares of Shinhan Financial Group by 31.3% during the first quarter. Bell Investment Advisors Inc now owns 747 shares of the bank's stock worth $46,000 after acquiring an additional 178 shares during the last quarter. WealthCollab LLC grew its holdings in Shinhan Financial Group by 19.2% during the first quarter. WealthCollab LLC now owns 1,635 shares of the bank's stock valued at $100,000 after purchasing an additional 263 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Shinhan Financial Group by 273.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,657 shares of the bank's stock valued at $143,000 after buying an additional 1,946 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Shinhan Financial Group by 19.7% in the second quarter. Allworth Financial LP now owns 3,049 shares of the bank's stock worth $193,000 after acquiring an additional 501 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Shinhan Financial Group during the 2nd quarter worth approximately $196,000. Institutional investors and hedge funds own 7.76% of the company's stock.

Shinhan Financial Group Company Profile

Shinhan Financial Group Co, Ltd. is a South Korean financial holding company that provides a broad range of financial services through its subsidiaries. Its businesses include commercial and retail banking, credit cards, securities and investment banking, insurance, asset management, consumer finance, and other related financial services.

The group's principal banking subsidiary is Shinhan Bank, which serves individual, corporate, and institutional customers with deposit accounts, loans, payment services, foreign exchange, wealth management, and digital banking products.

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