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

Key Points

• Shinhan Financial Group's stock price experienced a significant drop, opening at $48.67 after closing at $50.91, with shares last traded at $48.40.
• Wall Street Zen upgraded the rating of Shinhan Financial Group from a "hold" to a "buy" on May 19th, indicating increased investor confidence.
• Institutional investors have shown interest, with notable purchases including a 240.7% increase by Farther Finance Advisors and a 1,884.2% increase by Tower Research Capital LLC.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $50.91, but opened at $48.67. Shinhan Financial Group shares last traded at $48.40, with a volume of 62,434 shares trading hands.

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 Trading Down 5.3%

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 company has a market cap of $23.41 billion, a P/E ratio of 6.28, a price-to-earnings-growth ratio of 0.55 and a beta of 0.92. The firm has a 50-day moving average of $44.82 and a 200 day moving average of $37.63.

Institutional Investors Weigh In On Shinhan Financial Group

Several institutional investors have recently bought and sold shares of the stock. Wayfinding Financial LLC purchased a new position in Shinhan Financial Group in the first quarter valued at about $25,000. Cullen Frost Bankers Inc. purchased a new position in shares of Shinhan Financial Group during the 1st quarter valued at $28,000. Farther Finance Advisors LLC grew its stake in shares of Shinhan Financial Group by 240.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,908 shares of the bank's stock worth $86,000 after acquiring an additional 1,348 shares during the period. Tower Research Capital LLC TRC increased its holdings in Shinhan Financial Group by 1,884.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank's stock worth $95,000 after acquiring an additional 2,751 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in Shinhan Financial Group in the 4th quarter valued at about $125,000. Institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Company Profile

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.

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