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

Shinhan Financial Group Co Ltd (NYSE:SHG) shares gapped up prior to trading on Thursday . The stock had previously closed at $62.52, but opened at $66.00. Shinhan Financial Group shares last traded at $67.2580, with a volume of 18,879 shares traded.

Wall Street Analyst Weigh In

SHG has been the subject of a number of recent analyst reports. Weiss Ratings raised Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Zacks Research cut shares of Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Trading Up 0.0%

The company has a market capitalization of $31.75 billion, a price-to-earnings ratio of 7.26, a P/E/G ratio of 0.59 and a beta of 0.94. The company has a 50-day moving average price of $65.45 and a 200-day moving average price of $62.48. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.43.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings data on Tuesday, March 31st. The bank reported $1.98 earnings per share for the quarter. Shinhan Financial Group had a return on equity of 10.97% and a net margin of 20.07%. Research analysts predict that Shinhan Financial Group Co Ltd will post 7.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SHG. Brown Brothers Harriman & Co. boosted its position in shares of Shinhan Financial Group by 71.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock valued at $26,000 after acquiring an additional 200 shares during the period. Kestra Advisory Services LLC bought a new position in Shinhan Financial Group during the fourth quarter worth $38,000. Bell Investment Advisors Inc raised its stake in Shinhan Financial Group by 31.3% during the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock valued at $46,000 after purchasing an additional 178 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in Shinhan Financial Group by 6,238.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock valued at $44,000 after purchasing an additional 811 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Shinhan Financial Group by 1,465.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock valued at $41,000 after purchasing an additional 850 shares during the last quarter. 7.76% of the stock is owned by institutional investors.

Shinhan Financial Group Company Profile

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.