Shinhan Financial Group (NYSE:SHG) Shares Gap Down – Should You Sell?

Shinhan Financial Group Co., Ltd. (NYSE:SHG) shares gapped down before the market opened on Tuesday . The stock had previously closed at $38.86, but opened at $37.18. Shinhan Financial Group shares last traded at $37.76, with a volume of 73,184 shares traded.

Shinhan Financial Group Stock Performance

The stock has a market capitalization of $19.44 billion, a price-to-earnings ratio of 6.10, a PEG ratio of 0.63 and a beta of 0.92. The company’s 50-day simple moving average is $40.66 and its 200-day simple moving average is $39.32. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.53.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings data on Friday, October 25th. The bank reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.02. The business had revenue of $3.11 billion during the quarter. Shinhan Financial Group had a return on equity of 7.34% and a net margin of 12.21%. On average, analysts expect that Shinhan Financial Group Co., Ltd. will post 6.32 EPS for the current year.

Institutional Trading of Shinhan Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in shares of Shinhan Financial Group by 4.4% in the 3rd quarter. Franklin Resources Inc. now owns 83,524 shares of the bank’s stock valued at $3,608,000 after purchasing an additional 3,550 shares during the last quarter. World Investment Advisors LLC bought a new stake in Shinhan Financial Group during the third quarter valued at $609,000. Sanctuary Advisors LLC grew its holdings in Shinhan Financial Group by 8.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 9,210 shares of the bank’s stock worth $366,000 after acquiring an additional 735 shares during the period. M&T Bank Corp acquired a new position in shares of Shinhan Financial Group in the 3rd quarter valued at about $237,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Shinhan Financial Group during the 3rd quarter valued at about $2,219,000. 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.