Shinhan Financial Group (NYSE:SHG) Shares Gap Down to $43.42

Shinhan Financial Group Co., Ltd. (NYSE:SHG - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $43.42, but opened at $41.97. Shinhan Financial Group shares last traded at $41.85, with a volume of 59,500 shares traded.

Wall Street Analysts Forecast Growth

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

Shinhan Financial Group Trading Down 3.8 %

The firm has a market cap of $21.27 billion, a price-to-earnings ratio of 6.90, a P/E/G ratio of 0.75 and a beta of 0.92. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.02 and a current ratio of 1.02. The company's 50-day moving average is $41.38 and its 200-day moving average is $36.85.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last announced its quarterly earnings data on Friday, July 26th. The bank reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.19. Shinhan Financial Group had a return on equity of 7.16% and a net margin of 12.23%. The firm had revenue of $3.25 billion during the quarter. On average, research analysts predict that Shinhan Financial Group Co., Ltd. will post 6.22 earnings per share for the current year.

Institutional Investors Weigh In On Shinhan Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHG. GAMMA Investing LLC raised its position in shares of Shinhan Financial Group by 68.1% in the 1st quarter. GAMMA Investing LLC now owns 1,577 shares of the bank's stock valued at $56,000 after acquiring an additional 639 shares during the period. SageView Advisory Group LLC bought a new position in shares of Shinhan Financial Group during the first quarter worth $61,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Shinhan Financial Group by 42.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,290 shares of the bank's stock valued at $81,000 after buying an additional 678 shares during the period. Janiczek Wealth Management LLC increased its position in shares of Shinhan Financial Group by 25.2% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,886 shares of the bank's stock valued at $103,000 after buying an additional 581 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new stake in Shinhan Financial Group during the 2nd quarter worth $107,000. 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.