Shinhan Financial Group (NYSE:SHG) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Shinhan Financial Group Co Ltd (NYSE:SHG) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $68.81 and traded as high as $83.20. Shinhan Financial Group shares last traded at $82.27, with a volume of 116,755 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Friday, August 14th. Zacks Research cut shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Shinhan Financial Group presently has an average rating of “Moderate Buy”.

Shinhan Financial Group Price Performance

The company has a debt-to-equity ratio of 1.45, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $37.42 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 0.62 and a beta of 0.96. The stock’s fifty day moving average price is $76.34 and its 200-day moving average price is $69.08.

Shinhan Financial Group (NYSE:SHG) last issued its earnings results on Friday, August 14th. The bank reported $2.26 EPS for the quarter. The business had revenue of $2.96 billion during the quarter. Shinhan Financial Group had a return on equity of 8.63% and a net margin of 15.69%. Equities research analysts predict that Shinhan Financial Group Co Ltd will post 8.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Shinhan Financial Group

Several large investors have recently made changes to their positions in SHG. Bell Investment Advisors Inc raised its holdings 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 valued at $46,000 after purchasing an additional 178 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Shinhan Financial Group by 3.3% in the first quarter. Bessemer Group Inc. now owns 5,744 shares of the bank’s stock valued at $352,000 after acquiring an additional 183 shares during the period. Allworth Financial LP increased its position in Shinhan Financial Group by 12.5% during the fourth quarter. Allworth Financial LP now owns 1,703 shares of the bank’s stock worth $91,000 after acquiring an additional 189 shares during the period. WealthCollab LLC raised its stake in Shinhan Financial Group by 19.2% during the 1st quarter. WealthCollab LLC now owns 1,635 shares of the bank’s stock valued at $100,000 after purchasing an additional 263 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its stake in Shinhan Financial Group by 5.1% during the 1st quarter. Glenmede Trust Co. NA now owns 5,668 shares of the bank’s stock valued at $348,000 after purchasing an additional 277 shares during the last quarter. Institutional investors own 7.76% of the company’s stock.

About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. is a South Korean financial holding company headquartered in Seoul. Through its subsidiaries, the group provides a broad range of financial services, including retail and corporate banking, credit cards, securities brokerage and investment banking, asset management, life insurance, consumer finance and other specialized financial services.

Its principal banking operations are conducted through Shinhan Bank, while other major businesses include Shinhan Card, Shinhan Securities, Shinhan Life Insurance and Shinhan Asset Management.