Shinhan Financial Group (NYSE:SHG) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Shinhan Financial Group Co Ltd (NYSE:SHG) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $49.55 and traded as high as $52.89. Shinhan Financial Group shares last traded at $52.52, with a volume of 164,862 shares.

Analysts Set New Price Targets

Several equities analysts have recently commented on SHG shares. Zacks Research cut shares of Shinhan Financial Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a research report on Monday. Finally, Wall Street Zen downgraded Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Shinhan Financial Group Price Performance

The company has a market capitalization of $25.86 billion, a P/E ratio of 5.19, a price-to-earnings-growth ratio of 0.58 and a beta of 1.01. The company has a fifty day moving average price of $53.01 and a 200 day moving average price of $49.64. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.03 and a quick ratio of 1.03.

Shinhan Financial Group (NYSE:SHG) last announced its quarterly earnings results on Friday, November 14th. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.08. Shinhan Financial Group had a return on equity of 12.45% and a net margin of 22.38%.The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $3.79 billion. On average, sell-side analysts forecast that Shinhan Financial Group Co Ltd will post 5.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Shinhan Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. TD Private Client Wealth LLC acquired a new stake in Shinhan Financial Group in the third quarter worth about $42,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Shinhan Financial Group by 1,465.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after buying an additional 850 shares in the last quarter. Westside Investment Management Inc. acquired a new stake in shares of Shinhan Financial Group in the 2nd quarter worth approximately $47,000. Osaic Holdings Inc. boosted its holdings in shares of Shinhan Financial Group by 387.3% in the second quarter. Osaic Holdings Inc. now owns 1,306 shares of the bank’s stock valued at $59,000 after acquiring an additional 1,038 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Shinhan Financial Group by 3,831.3% during the third quarter. Smartleaf Asset Management LLC now owns 1,887 shares of the bank’s stock valued at $95,000 after acquiring an additional 1,839 shares during the period. 7.76% of the stock is currently owned by institutional investors and hedge funds.

About Shinhan Financial Group

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company’s principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.