Shinhan Financial Group (NYSE:SHG) Shares Gap Down – Time to Sell?

Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) gapped down before the market opened on Friday . The stock had previously closed at $39.69, but opened at $38.40. Shinhan Financial Group shares last traded at $38.21, with a volume of 17,687 shares.

Shinhan Financial Group Price Performance

The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $19.46 billion, a P/E ratio of 6.00, a P/E/G ratio of 0.64 and a beta of 0.93. The firm’s fifty day moving average is $41.25 and its 200 day moving average is $38.90.

Shinhan Financial Group (NYSE:SHG) last released its earnings results on Friday, October 25th. The bank reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.02. Shinhan Financial Group had a return on equity of 7.24% and a net margin of 12.21%. The firm had revenue of $3.11 billion for the quarter. As a group, analysts predict that Shinhan Financial Group Co., Ltd. will post 6.32 earnings per share for the current fiscal year.

Institutional Trading of Shinhan Financial Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SHG. Lazard Asset Management LLC grew its holdings in shares of Shinhan Financial Group by 2.7% in the first quarter. Lazard Asset Management LLC now owns 1,298,302 shares of the bank’s stock worth $46,075,000 after purchasing an additional 34,597 shares during the last quarter. Pzena Investment Management LLC grew its stake in Shinhan Financial Group by 27.9% in the 2nd quarter. Pzena Investment Management LLC now owns 1,082,552 shares of the bank’s stock worth $37,684,000 after acquiring an additional 236,236 shares in the last quarter. American Century Companies Inc. increased its position in shares of Shinhan Financial Group by 7.8% during the second quarter. American Century Companies Inc. now owns 646,749 shares of the bank’s stock worth $22,513,000 after acquiring an additional 46,720 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Shinhan Financial Group by 21.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 486,976 shares of the bank’s stock valued at $20,633,000 after acquiring an additional 85,539 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Shinhan Financial Group by 16.2% in the second quarter. Acadian Asset Management LLC now owns 319,186 shares of the bank’s stock valued at $11,106,000 after purchasing an additional 44,402 shares during the period. Hedge funds and other institutional investors own 7.76% of the company’s stock.

About Shinhan Financial Group

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.