Shinhan Financial Group (NYSE:SHG) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Shinhan Financial Group shares rose above their 200-day moving average, reaching $77.35 versus the $70.37 average, and last traded near $77.04.
• Analyst sentiment is moderately positive: Weiss Ratings maintained a buy rating, while Zacks Research downgraded the stock to hold. MarketBeat reports a consensus rating of “Moderate Buy.”
• The bank reported quarterly EPS of $2.26 on $2.96 billion in revenue, with a 15.69% net margin and 8.63% return on equity; institutional investors own 7.76% of its shares.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $70.37 and traded as high as $77.35. Shinhan Financial Group shares last traded at $77.0350, with a volume of 148,346 shares.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SHG. Weiss Ratings restated a "buy (b)" rating on shares of Shinhan Financial Group in a research note on Friday, August 14th. Zacks Research lowered Shinhan Financial Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 11th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

Shinhan Financial Group Price Performance

The firm has a fifty day simple moving average of $77.98 and a two-hundred day simple moving average of $70.37. The firm has a market cap of $36.16 billion, a PE ratio of 10.35, a PEG ratio of 0.59 and a beta of 0.98. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.98 and a current ratio of 0.98.

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

Institutional Trading of Shinhan Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in Shinhan Financial Group by 2.3% during the second quarter. Wellington Management Group LLP now owns 215,080 shares of the bank's stock worth $13,604,000 after buying an additional 4,872 shares during the period. Quantinno Capital Management LP lifted its holdings 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 acquiring an additional 49,966 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Shinhan Financial Group by 11.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 194,096 shares of the bank's stock worth $10,409,000 after acquiring an additional 20,217 shares during the last quarter. NewEdge Wealth LLC boosted its stake in shares of Shinhan Financial Group by 10.9% during the 1st quarter. NewEdge Wealth LLC now owns 102,659 shares of the bank's stock worth $6,295,000 after purchasing an additional 10,050 shares during the period. Finally, Nykredit A S bought a new position in Shinhan Financial Group during the 2nd quarter valued at about $5,326,000. Hedge funds and other institutional investors 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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