Shinhan Financial Group (NYSE:SHG) Sees Unusually-High Trading Volume – Should You Buy?

Shinhan Financial Group Co Ltd (NYSE:SHG) shares saw strong trading volume on Friday . 679,616 shares were traded during mid-day trading, an increase of 229% from the previous session’s volume of 206,420 shares.The stock last traded at $53.5550 and had previously closed at $54.10.

Wall Street Analysts Forecast Growth

SHG has been the topic of several recent research reports. Zacks Research lowered shares of Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Shinhan Financial Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Shinhan Financial Group presently has a consensus rating of “Hold”.

Shinhan Financial Group Price Performance

The company has a 50-day moving average of $53.76 and a 200 day moving average of $51.02. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $26.02 billion, a PE ratio of 5.21, a PEG ratio of 0.58 and a beta of 1.01.

Shinhan Financial Group (NYSE:SHG) last announced its earnings results on Friday, November 14th. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.08. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Shinhan Financial Group had a net margin of 22.38% and a return on equity of 12.45%. Sell-side analysts predict that Shinhan Financial Group Co Ltd will post 5.97 EPS for the current year.

Institutional Trading of Shinhan Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. TD Private Client Wealth LLC acquired a new position in shares of Shinhan Financial Group during the 3rd quarter valued at about $42,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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. Westside Investment Management Inc. purchased a new stake in shares of Shinhan Financial Group in the 2nd quarter valued at approximately $47,000. Osaic Holdings Inc. increased its holdings in shares of Shinhan Financial Group by 387.3% during the 2nd quarter. Osaic Holdings Inc. now owns 1,306 shares of the bank’s stock worth $59,000 after buying an additional 1,038 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Shinhan Financial Group by 3,831.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,887 shares of the bank’s stock valued at $95,000 after buying an additional 1,839 shares during the period. 7.76% of the stock is owned by institutional investors and hedge funds.

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.