Shinhan Financial Group (NYSE:SHG) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Shinhan Financial Group Co Ltd (NYSE:SHG) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $49.55 and traded as high as $52.89. Shinhan Financial Group shares last traded at $52.52, with a volume of 164,862 shares traded.

Wall Street Analyst Weigh In

Several research firms have weighed in on SHG. Zacks Research downgraded Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 2nd. Wall Street Zen downgraded Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a report on Monday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Shinhan Financial Group Trading Up 0.9%

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.51. The firm has a market cap of $25.50 billion, a price-to-earnings ratio of 5.11, a PEG ratio of 0.57 and a beta of 1.01. The company has a fifty day moving average price of $52.93 and a 200-day moving average price of $49.55.

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

Institutional Trading of Shinhan Financial Group

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its position in Shinhan Financial Group by 1,465.5% during the second 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. TD Private Client Wealth LLC acquired a new position in shares of Shinhan Financial Group in the third quarter worth about $42,000. Westside Investment Management Inc. purchased a new stake in shares of Shinhan Financial Group during the 2nd quarter worth about $47,000. Osaic Holdings Inc. grew its position 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 valued at $59,000 after acquiring an additional 1,038 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of Shinhan Financial Group by 240.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,908 shares of the bank’s stock valued at $86,000 after acquiring an additional 1,348 shares during the period. 7.76% of the stock is owned by hedge funds and other institutional investors.

Shinhan Financial Group Company Profile

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through six segments: Banking, Credit Card, Securities, Insurance, Credit, and Others. It offers retail banking services, including demand, savings, and fixed deposit-taking; checking accounts; mortgage and home equity, and retail lending; electronic banking and automatic teller machines (ATM); and bill paying, payroll and check-cashing, currency exchange, and wire fund transfer services.