Shinhan Financial Group (NYSE:SHG) Shares Gap Up – What’s Next?

Shinhan Financial Group Co Ltd (NYSE:SHG)’s stock price gapped up before the market opened 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.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Zacks Research raised Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Thursday. Finally, Wall Street Zen lowered shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Strong Buy”.

Shinhan Financial Group Trading Up 4.5%

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 company’s 50-day moving average price is $73.67 and its 200-day moving average price is $68.92. The firm has a market cap of $31.28 billion, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of 0.44 and a beta of 1.07.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings data 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 company had revenue of $2.96 billion for the quarter. Equities analysts expect that Shinhan Financial Group Co Ltd will post 9.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nykredit A S purchased a new stake in Shinhan Financial Group in the second quarter valued at $5,326,000. Russell Investments Group Ltd. raised its holdings in shares of Shinhan Financial Group by 179.6% in the third quarter. Russell Investments Group Ltd. now owns 103,754 shares of the bank’s stock valued at $8,063,000 after buying an additional 66,640 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Shinhan Financial Group by 40.5% during the first quarter. Quantinno Capital Management LP now owns 173,250 shares of the bank’s stock worth $10,624,000 after buying an additional 49,966 shares during the period. First Trust Advisors LP raised its stake in Shinhan Financial Group by 107.5% during the 1st quarter. First Trust Advisors LP now owns 34,286 shares of the bank’s stock valued at $2,102,000 after acquiring an additional 17,759 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in Shinhan Financial Group by 140.7% during the 3rd quarter. Global Retirement Partners LLC now owns 28,981 shares of the bank’s stock worth $2,251,000 after acquiring an additional 16,941 shares during the period. 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.