Shinhan Financial Group (NYSE:SHG) Shares Gap Down - Should You Sell?

Shinhan Financial Group Co., Ltd. (NYSE:SHG - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $32.19, but opened at $31.36. Shinhan Financial Group shares last traded at $31.44, with a volume of 51,713 shares traded.

Shinhan Financial Group Trading Down 1.6 %

The stock has a market cap of $15.95 billion, a price-to-earnings ratio of 4.97, a P/E/G ratio of 0.44 and a beta of 0.89. The business's fifty day simple moving average is $33.91 and its 200 day simple moving average is $37.90. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.04 and a quick ratio of 1.04.

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

Hedge Funds Weigh In On Shinhan Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of SHG. Sierra Ocean LLC acquired a new position in shares of Shinhan Financial Group during the fourth quarter valued at $43,000. R Squared Ltd acquired a new position in shares of Shinhan Financial Group during the fourth quarter valued at $76,000. Tower Research Capital LLC TRC boosted its holdings 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 valued at $95,000 after acquiring an additional 2,751 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Shinhan Financial Group during the fourth quarter valued at $125,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of Shinhan Financial Group by 8.1% during the fourth quarter. Sterling Capital Management LLC now owns 5,564 shares of the bank's stock valued at $183,000 after acquiring an additional 415 shares during the period. Institutional investors and hedge funds own 7.76% of the company's stock.

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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.