Shinhan Financial Group (NYSE:SHG) Shares Gap Down - Time to Sell?
Shinhan Financial Group (NYSE:SHG) shares gapped down from $32.19 to $31.36, closing at $31.44, a 2.4% decline. The company has a market cap of $15.82 billion, a P/E ratio of 4.93, and reported $1.94 EPS with $2.82 billion in revenue last quarter. Institutional investors have recently increased their stakes, owning 7.76% of the company. Analysts forecast an EPS of 5.97 for the current fiscal year, but Shinhan is not among the top stock picks recommended by analysts.
Shinhan Financial Group Co., Ltd. (NYSE:SHG - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $32.19, but opened at $31.36. Shinhan Financial Group shares last traded at $31.44, with a volume of 51,713 shares changing hands.
Shinhan Financial Group Stock Down 2.4 %
The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.53. The company's 50 day simple moving average is $33.94 and its 200-day simple moving average is $38.02. The firm has a market cap of $15.82 billion, a P/E ratio of 4.93, a PEG ratio of 0.44 and a beta of 0.94.
Shinhan Financial Group (NYSE:SHG - Get Free Report) last released its earnings results on Tuesday, March 4th. The bank reported $1.94 earnings per share (EPS) for the quarter. The company had revenue of $2.82 billion during the quarter. Shinhan Financial Group had a net margin of 12.21% and a return on equity of 7.34%. Research analysts forecast that Shinhan Financial Group Co., Ltd. will post 5.97 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Shinhan Financial Group
Institutional investors have recently bought and sold shares of the business. Sierra Ocean LLC bought a new position in shares of Shinhan Financial Group in the fourth quarter worth about $43,000. R Squared Ltd purchased a new stake in shares of Shinhan Financial Group during the 4th quarter valued at about $76,000. Tower Research Capital LLC TRC lifted its holdings in shares of Shinhan Financial Group by 1,884.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank's stock valued at $95,000 after acquiring an additional 2,751 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Shinhan Financial Group during the 4th quarter valued at approximately $125,000. Finally, Verition Fund Management LLC bought a new position in Shinhan Financial Group during the third quarter valued at $202,000. Hedge funds and other institutional investors own 7.76% of the company's stock.
About Shinhan Financial Group
(Get Free Report)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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