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

Shinhan Financial Group Co., Ltd. (NYSE:SHG - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $40.56, but opened at $43.10. Shinhan Financial Group shares last traded at $43.65, with a volume of 23,122 shares.

Analyst Ratings Changes

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 Down 1.0%

The business has a fifty day moving average of $35.65 and a 200 day moving average of $34.90. The firm has a market cap of $21.25 billion, a P/E ratio of 6.73, a P/E/G ratio of 0.44 and a beta of 0.84. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.53.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last posted its earnings results on Tuesday, March 4th. The bank reported $1.94 earnings per share (EPS) for the quarter. Shinhan Financial Group had a return on equity of 7.34% and a net margin of 12.21%. The firm had revenue of $2.82 billion during the quarter. On average, equities research analysts predict that Shinhan Financial Group Co., Ltd. will post 5.97 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of Shinhan Financial Group during the first quarter worth about $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Shinhan Financial Group in the first quarter valued at approximately $28,000. Sierra Ocean LLC acquired a new stake in shares of Shinhan Financial Group in the fourth quarter valued at approximately $43,000. Tower Research Capital LLC TRC increased its stake in shares of Shinhan Financial Group by 1,884.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank's stock worth $95,000 after purchasing an additional 2,751 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Shinhan Financial Group during the fourth quarter worth approximately $125,000. 7.76% of the stock is currently owned by institutional investors.

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.