Shinhan Financial Group (NYSE:SHG) Shares Down 2.5%

Shinhan Financial Group Co., Ltd. (NYSE:SHG)’s stock price fell 2.5% during mid-day trading on Friday . The stock traded as low as $42.15 and last traded at $42.15. 11,055 shares were traded during mid-day trading, a decline of 91% from the average session volume of 123,465 shares. The stock had previously closed at $43.23.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, June 6th.

Shinhan Financial Group Stock Down 1.8 %

The firm’s 50 day moving average is $39.69 and its two-hundred day moving average is $35.91. The firm has a market cap of $21.62 billion, a P/E ratio of 6.99, a price-to-earnings-growth ratio of 0.73 and a beta of 0.93. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.50.

Shinhan Financial Group (NYSE:SHG) last posted its earnings results on Friday, July 26th. The bank reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.19. The firm had revenue of $3.25 billion during the quarter. Shinhan Financial Group had a return on equity of 7.58% and a net margin of 12.97%. As a group, research analysts anticipate that Shinhan Financial Group Co., Ltd. will post 6.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Clearbridge Investments LLC boosted its stake in Shinhan Financial Group by 34.5% in the 2nd quarter. Clearbridge Investments LLC now owns 163,705 shares of the bank’s stock worth $5,699,000 after purchasing an additional 41,992 shares during the period. Creative Planning lifted its position in Shinhan Financial Group by 12.1% during the 2nd quarter. Creative Planning now owns 100,326 shares of the bank’s stock worth $3,492,000 after buying an additional 10,824 shares in the last quarter. Marshall Wace LLP acquired a new position in Shinhan Financial Group during the second quarter valued at approximately $2,332,000. EverSource Wealth Advisors LLC increased its holdings in Shinhan Financial Group by 6.4% during the second quarter. EverSource Wealth Advisors LLC now owns 7,368 shares of the bank’s stock worth $256,000 after buying an additional 445 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of Shinhan Financial Group by 3.9% during the 2nd quarter. Gabelli Funds LLC now owns 30,600 shares of the bank’s stock worth $1,065,000 after purchasing an additional 1,150 shares during the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

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.