Shinhan Financial Group (NYSE:SHG) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Shinhan Financial Group shares rose above their 200-day moving average, reaching $83.20 and last trading at $82.27, compared with a 200-day average of $68.81.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating: one analyst rates the stock Buy and another rates it Hold. Zacks recently downgraded the shares from Strong Buy to Hold.
• The company 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 the stock.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $68.81 and traded as high as $83.20. Shinhan Financial Group shares last traded at $82.27, with a volume of 116,755 shares traded.

Analysts Set New Price Targets

SHG has been the topic of several analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Shinhan Financial Group in a research note on Friday, August 14th. Zacks Research cut Shinhan Financial Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 11th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Shinhan Financial Group Trading Up 2.7%

The company's fifty day moving average is $75.95 and its two-hundred day moving average is $68.81. 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 market cap of $38.62 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.60 and a beta of 0.96.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The bank reported $2.26 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 during the quarter. On average, research analysts predict that Shinhan Financial Group Co Ltd will post 8.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Shinhan Financial Group

Large investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC lifted its holdings in Shinhan Financial Group by 17.3% during 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. WINTON GROUP Ltd acquired a new position in shares of Shinhan Financial Group during the 2nd quarter worth about $202,000. Integrated Wealth Concepts LLC increased its holdings in shares of Shinhan Financial Group by 14.2% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 9,965 shares of the bank's stock valued at $630,000 after acquiring an additional 1,242 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Shinhan Financial Group by 4.5% in the 2nd quarter. NewEdge Advisors LLC now owns 13,944 shares of the bank's stock valued at $882,000 after acquiring an additional 595 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Shinhan Financial Group during the 2nd quarter worth about $219,000. 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 headquartered in Seoul. Through its subsidiaries, the group provides a broad range of financial services, including retail and corporate banking, credit cards, securities brokerage and investment banking, asset management, life insurance, consumer finance and other specialized financial services.

Its principal banking operations are conducted through Shinhan Bank, while other major businesses include Shinhan Card, Shinhan Securities, Shinhan Life Insurance and Shinhan Asset Management.

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