Shinhan Financial Group (NYSE:SHG) Shares Gap Up - What's Next?

Shinhan Financial Group Co., Ltd. (NYSE:SHG - Get Free Report) shares gapped up before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

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

Shinhan Financial Group Stock Up 0.1%

The company has a market capitalization of $21.28 billion, a P/E ratio of 6.74, a PEG ratio of 0.44 and a beta of 0.90. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50 day moving average of $36.07 and a 200-day moving average of $34.97.

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

Institutional Trading of Shinhan Financial Group

A number of institutional investors have recently made changes to their positions in SHG. Yousif Capital Management LLC increased its stake in shares of Shinhan Financial Group by 514.6% in the 4th quarter. Yousif Capital Management LLC now owns 47,176 shares of the bank's stock worth $1,551,000 after purchasing an additional 39,500 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Shinhan Financial Group by 29.9% during the fourth quarter. V Square Quantitative Management LLC now owns 23,346 shares of the bank's stock valued at $761,000 after buying an additional 5,373 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Shinhan Financial Group in the 4th quarter worth $43,000. NewEdge Wealth LLC grew its holdings in Shinhan Financial Group by 6.5% during the 4th quarter. NewEdge Wealth LLC now owns 104,657 shares of the bank's stock valued at $3,441,000 after buying an additional 6,369 shares in the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of Shinhan Financial Group by 13.8% in the fourth quarter. QRG Capital Management Inc. now owns 24,452 shares of the bank's stock valued at $804,000 after purchasing an additional 2,972 shares in the last quarter. Hedge funds and other 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.