Shinhan Financial Group (NYSE:SHG) Shares Gap Up – Still a Buy?

Shinhan Financial Group Co Ltd (NYSE:SHG)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $68.25, but opened at $72.61. Shinhan Financial Group shares last traded at $71.1550, with a volume of 99,146 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SHG shares. Zacks Research upgraded shares of Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Shinhan Financial Group presently has an average rating of “Moderate Buy”.

Shinhan Financial Group Trading Down 0.0%

The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $33.87 billion, a PE ratio of 6.79, a PEG ratio of 0.57 and a beta of 1.00. The company’s 50-day moving average price is $56.62 and its 200-day moving average price is $52.78.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in Shinhan Financial Group by 9.1% in the 1st quarter. Royal Bank of Canada now owns 126,217 shares of the bank’s stock worth $4,049,000 after buying an additional 10,534 shares during the last quarter. AQR Capital Management LLC acquired a new position in Shinhan Financial Group in the first quarter valued at $210,000. Millennium Management LLC grew its position in Shinhan Financial Group by 152.0% during the first quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock valued at $18,689,000 after acquiring an additional 351,413 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Shinhan Financial Group by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock worth $10,376,000 after purchasing an additional 118,548 shares during the period. Finally, US Bancorp DE lifted its stake in shares of Shinhan Financial Group by 8.0% in the 2nd quarter. US Bancorp DE now owns 30,883 shares of the bank’s stock valued at $1,395,000 after purchasing an additional 2,280 shares in the last quarter. 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.