Shinhan Financial Group (NYSE:SHG) Shares Gap Up - Still a Buy?

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $46.36, but opened at $51.17. Shinhan Financial Group shares last traded at $50.49, with a volume of 89,937 shares trading hands.

Analyst Upgrades and Downgrades

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

Shinhan Financial Group Price Performance

The company has a debt-to-equity ratio of 1.51, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $24.62 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 0.62 and a beta of 0.92. The stock's 50 day simple moving average is $42.15 and its 200-day simple moving average is $36.42.

Institutional Trading of Shinhan Financial Group

Institutional investors and hedge funds have recently modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of Shinhan Financial Group in the first quarter worth $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Shinhan Financial Group in the first quarter worth $28,000. Farther Finance Advisors LLC lifted its stake in shares of Shinhan Financial Group by 240.7% in the second quarter. Farther Finance Advisors LLC now owns 1,908 shares of the bank's stock worth $86,000 after buying an additional 1,348 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Shinhan Financial Group by 1,884.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank's stock worth $95,000 after buying an additional 2,751 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in Shinhan Financial Group during the 4th quarter valued at $125,000. 7.76% of the stock is currently owned by institutional investors and hedge funds.

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.