Shinhan Financial Group Co., Ltd. (NYSE:SHG – Get Free Report) rose 8.1% during trading on Thursday . The company traded as high as $44.05 and last traded at $44.05. Approximately 102,465 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 124,583 shares. The stock had previously closed at $40.74.
Analyst Ratings Changes
Separately, StockNews.com cut Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, June 6th.
View Our Latest Research Report on Shinhan Financial Group
Shinhan Financial Group Trading Up 9.7 %
Shinhan Financial Group (NYSE:SHG – Get Free Report) last issued its quarterly earnings results on Friday, July 26th. The bank reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.19. Shinhan Financial Group had a return on equity of 7.16% and a net margin of 12.23%. The company had revenue of $3.25 billion during the quarter. As a group, analysts forecast that Shinhan Financial Group Co., Ltd. will post 6.22 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHG. GAMMA Investing LLC increased its holdings in Shinhan Financial Group by 68.1% during the first quarter. GAMMA Investing LLC now owns 1,577 shares of the bank’s stock valued at $56,000 after buying an additional 639 shares during the last quarter. SageView Advisory Group LLC bought a new stake in shares of Shinhan Financial Group in the 1st quarter valued at approximately $61,000. Allspring Global Investments Holdings LLC boosted its stake in Shinhan Financial Group by 42.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,290 shares of the bank’s stock worth $81,000 after buying an additional 678 shares during the period. Janiczek Wealth Management LLC lifted its stake in shares of Shinhan Financial Group by 25.2% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,886 shares of the bank’s stock worth $103,000 after acquiring an additional 581 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in Shinhan Financial Group during the 2nd quarter valued at $107,000. Institutional investors 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.
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