Shinhan Financial Group (NYSE:SHG) Shares Gap Up - Here's Why

Shinhan Financial Group Co., Ltd. (NYSE:SHG - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $34.14, but opened at $35.24. Shinhan Financial Group shares last traded at $35.04, with a volume of 21,073 shares changing hands.

Shinhan Financial Group Stock Down 0.5 %

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 stock has a market cap of $17.10 billion, a price-to-earnings ratio of 5.33, a price-to-earnings-growth ratio of 0.57 and a beta of 0.92. The firm's 50-day moving average is $39.27 and its 200 day moving average is $39.40.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last announced its quarterly earnings data on Friday, October 25th. The bank reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.02. The company had revenue of $3.11 billion during the quarter. Shinhan Financial Group had a net margin of 12.21% and a return on equity of 7.34%. Sell-side analysts anticipate that Shinhan Financial Group Co., Ltd. will post 6.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp purchased a new position in shares of Shinhan Financial Group in the 2nd quarter valued at $107,000. Atomi Financial Group Inc. raised its holdings in shares of Shinhan Financial Group by 22.4% during the 2nd quarter. Atomi Financial Group Inc. now owns 14,212 shares of the bank's stock valued at $495,000 after buying an additional 2,605 shares during the period. Atlas Capital Advisors LLC lifted its position in Shinhan Financial Group by 42.4% during the 2nd quarter. Atlas Capital Advisors LLC now owns 10,332 shares of the bank's stock worth $360,000 after acquiring an additional 3,074 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in Shinhan Financial Group in the 2nd quarter worth approximately $887,000. Finally, Natixis Advisors LLC grew its position 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 acquiring an additional 2,070 shares in the last quarter. 7.76% of the stock is 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.