Shinhan Financial Group (NYSE:SHG) Sees Large Volume Increase - Here's Why

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 325,060 shares traded hands during trading, an increase of 67% from the previous session's volume of 194,269 shares.The stock last traded at $51.23 and had previously closed at $49.59.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Shinhan Financial Group from a "hold" rating to a "buy" rating in a research report on Monday, May 19th.

Shinhan Financial Group Stock Up 0.7%

The stock has a market cap of $24.79 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 0.62 and a beta of 0.92. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.51. The business has a 50-day moving average price of $42.98 and a 200-day moving average price of $36.76.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp grew its position in shares of Shinhan Financial Group by 249.2% in the fourth quarter. Northern Trust Corp now owns 1,445,120 shares of the bank's stock valued at $47,516,000 after purchasing an additional 1,031,257 shares in the last quarter. Ranmore Fund Management Ltd purchased a new stake in shares of Shinhan Financial Group in the first quarter valued at approximately $15,687,000. Millennium Management LLC increased its stake in shares of Shinhan Financial Group by 152.0% in the 1st quarter. Millennium Management LLC now owns 582,570 shares of the bank's stock worth $18,689,000 after acquiring an additional 351,413 shares during the last quarter. Causeway Capital Management LLC increased its stake in shares of Shinhan Financial Group by 56.6% in the 1st quarter. Causeway Capital Management LLC now owns 509,806 shares of the bank's stock worth $16,355,000 after acquiring an additional 184,167 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Shinhan Financial Group in the 4th quarter worth $5,830,000. Hedge funds and other 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.