Shinhan Financial Group (NYSE:SHG) Shares Gap Up - Should You Buy?

Key Points

• SHG shares jumped at the open, rising from a prior close of $63.77 to $67.66; they later traded at $66.64.
• Analyst views were mixed, but MarketBeat reported a consensus “Strong Buy”, based on one Strong Buy and one Buy rating.
• Shinhan reported quarterly EPS of $2.26 on $2.96 billion in revenue; analysts forecast full-year EPS of $9.38.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report)'s stock price gapped up before the market opened on Friday. The stock had previously closed at $63.77, but opened at $67.66. Shinhan Financial Group shares last traded at $66.6410, with a volume of 42,073 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on SHG shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Shinhan Financial Group in a research note on Thursday. Zacks Research upgraded shares of Shinhan Financial Group from a "hold" rating to a "strong-buy" rating in a report on Monday, October 12th. Finally, Wall Street Zen cut shares of Shinhan Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday, October 31st. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Strong Buy".

Shinhan Financial Group Stock Performance

The company has a market capitalization of $31.25 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 0.45 and a beta of 1.07. The business has a 50 day moving average of $74.02 and a 200 day moving average of $68.89. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.45.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The bank reported $2.26 earnings per share (EPS) for the quarter. The business had revenue of $2.96 billion for the quarter. Shinhan Financial Group had a return on equity of 8.81% and a net margin of 15.68%. On average, sell-side analysts predict that Shinhan Financial Group Co Ltd will post 9.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nykredit A S bought a new position in Shinhan Financial Group during the second quarter valued at $5,326,000. First Trust Advisors LP grew its stake in shares of Shinhan Financial Group by 107.5% in the 1st quarter. First Trust Advisors LP now owns 34,286 shares of the bank's stock worth $2,102,000 after buying an additional 17,759 shares in the last quarter. Corient Private Wealth LP grew its stake in shares of Shinhan Financial Group by 46.4% in the 2nd quarter. Corient Private Wealth LP now owns 38,537 shares of the bank's stock worth $2,437,000 after buying an additional 12,212 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of Shinhan Financial Group by 40.5% in the 1st quarter. Quantinno Capital Management LP now owns 173,250 shares of the bank's stock worth $10,624,000 after buying an additional 49,966 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Shinhan Financial Group by 17.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 44,560 shares of the bank's stock worth $2,818,000 after buying an additional 6,558 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.

Shinhan Financial Group Company Profile

Shinhan Financial Group is a South Korean financial holding company that provides banking and a range of nonbank financial services through its subsidiaries. Its businesses include commercial and consumer banking, credit cards, securities brokerage and investment banking, insurance, asset management, and capital and leasing services. Established in 2001, the group has expanded through acquisitions and the development of businesses beyond traditional banking. Its principal market is South Korea, and it also serves customers and businesses in overseas markets, including elsewhere in Asia.

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