Shinhan Financial Group (NYSE:SHG) Shares Gap Up – Should You Buy?

Shinhan Financial Group Co Ltd (NYSE:SHG)’s stock price gapped up prior to trading on Friday. The stock had previously closed at $63.77, but opened at $67.66. Shinhan Financial Group shares last traded at $66.6410, with a volume of 42,073 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SHG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Thursday. Zacks Research raised Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Finally, Wall Street Zen lowered Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Shinhan Financial Group Stock Performance

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.45. The business has a 50 day moving average price of $74.02 and a 200 day moving average price of $68.89. The stock has a market cap of $31.25 billion, a P/E ratio of 8.62, a PEG ratio of 0.45 and a beta of 1.07.

Shinhan Financial Group (NYSE:SHG) last issued its quarterly earnings results on Friday, August 14th. The bank reported $2.26 earnings per share (EPS) for the quarter. Shinhan Financial Group had a return on equity of 8.81% and a net margin of 15.68%. The firm had revenue of $2.96 billion during the quarter. As a group, sell-side analysts expect that Shinhan Financial Group Co Ltd will post 9.38 EPS for the current year.

Institutional Trading of Shinhan Financial Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SHG. Mather Group LLC. lifted its position in shares of Shinhan Financial Group by 1,389.1% during the third quarter. Mather Group LLC. now owns 819 shares of the bank’s stock worth $64,000 after purchasing an additional 764 shares during the last quarter. WealthCollab LLC boosted its stake in shares of Shinhan Financial Group by 19.2% during the first 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 period. Allworth Financial LP boosted its stake in shares of Shinhan Financial Group by 19.7% during the second quarter. Allworth Financial LP now owns 3,049 shares of the bank’s stock valued at $193,000 after purchasing an additional 501 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Shinhan Financial Group during the second quarter valued at $196,000. Finally, Piedmont Capital Management LLC NC bought a new position in shares of Shinhan Financial Group in the third quarter worth about $201,000. Hedge funds and other institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Company Profile

Shinhan Financial Group is a South Korean financial holding company that provides banking and a range of nonbank financial services through its subsidiaries. Its businesses include commercial and consumer banking, credit cards, securities brokerage and investment banking, insurance, asset management, and capital and leasing services. Established in 2001, the group has expanded through acquisitions and the development of businesses beyond traditional banking. Its principal market is South Korea, and it also serves customers and businesses in overseas markets, including elsewhere in Asia.