Shinhan Financial Group (NYSE:SHG) Shares Gap Down to $39.53

Shinhan Financial Group Co., Ltd. (NYSE:SHG)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $39.53, but opened at $38.21. Shinhan Financial Group shares last traded at $38.71, with a volume of 33,294 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, June 6th.

Shinhan Financial Group Stock Down 1.0 %

The firm has a market capitalization of $19.94 billion, a P/E ratio of 6.44, a P/E/G ratio of 0.72 and a beta of 0.93. The stock has a fifty day moving average price of $36.58 and a two-hundred day moving average price of $34.50. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.02 and a current ratio of 1.02.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings results on Thursday, May 16th. The bank reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.35. The company had revenue of $3.09 billion during the quarter. Shinhan Financial Group had a net margin of 12.76% and a return on equity of 7.23%. Research analysts forecast that Shinhan Financial Group Co., Ltd. will post 6.22 EPS for the current year.

Institutional Investors Weigh In On Shinhan Financial Group

Large investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC grew its holdings in Shinhan Financial Group by 27.9% in the 2nd quarter. Pzena Investment Management LLC now owns 1,082,552 shares of the bank’s stock valued at $37,684,000 after buying an additional 236,236 shares during the last quarter. Natixis Advisors LLC lifted its stake in Shinhan Financial Group by 2.4% in the second quarter. Natixis Advisors LLC now owns 86,576 shares of the bank’s stock valued at $3,014,000 after buying an additional 2,070 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of Shinhan Financial Group in the second quarter valued at about $887,000. Atlas Capital Advisors LLC boosted its holdings in shares of Shinhan Financial Group by 42.4% in the 2nd quarter. Atlas Capital Advisors LLC now owns 10,332 shares of the bank’s stock valued at $360,000 after buying an additional 3,074 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its holdings in Shinhan Financial Group by 22.4% during the second quarter. Atomi Financial Group Inc. now owns 14,212 shares of the bank’s stock worth $495,000 after buying an additional 2,605 shares during the last quarter. 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.