Shinhan Financial Group (NYSE:SHG) Trading Down 5.3% – Time to Sell?

Shares of Shinhan Financial Group Co Ltd (NYSE:SHG) traded down 5.3% during trading on Monday . The company traded as low as $63.56 and last traded at $63.64. 35,315 shares were traded during mid-day trading, a decline of 87% from the average session volume of 281,823 shares. The stock had previously closed at $67.17.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Zacks Research downgraded shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings upgraded shares of Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Shinhan Financial Group Price Performance

The stock’s fifty day moving average price is $65.16 and its 200-day moving average price is $60.89. The firm has a market cap of $30.33 billion, a price-to-earnings ratio of 6.94, a P/E/G ratio of 0.53 and a beta of 0.93. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.54.

Shinhan Financial Group (NYSE:SHG) last announced its quarterly earnings results on Tuesday, March 31st. The bank reported $1.98 earnings per share (EPS) for the quarter. Shinhan Financial Group had a net margin of 20.07% and a return on equity of 11.02%. As a group, equities research analysts forecast that Shinhan Financial Group Co Ltd will post 7.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shinhan Financial Group

Hedge funds have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. boosted its position in shares of Shinhan Financial Group by 71.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock worth $26,000 after purchasing an additional 200 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Shinhan Financial Group during the 4th quarter worth approximately $38,000. Bell Investment Advisors Inc boosted its position in shares of Shinhan Financial Group by 31.3% during the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock worth $46,000 after purchasing an additional 178 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Shinhan Financial Group by 6,238.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock valued at $44,000 after buying an additional 811 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Shinhan Financial Group by 1,465.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock valued at $41,000 after buying an additional 850 shares during the period. Hedge funds and other institutional investors own 7.76% of the company’s stock.

About Shinhan Financial Group

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company’s principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.