Shinhan Financial Group (NYSE:SHG) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Shinhan Financial Group Co Ltd (NYSE:SHG)’s stock price passed 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 changing hands.

Analysts Set New Price Targets

SHG has been the subject of several research reports. 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. Wall Street Zen downgraded shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Shinhan Financial Group in a report on Monday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Shinhan Financial Group Stock Performance

The firm’s 50 day moving average is $52.93 and its 200 day moving average is $49.55. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $25.50 billion, a P/E ratio of 5.11, a price-to-earnings-growth ratio of 0.57 and a beta of 1.01.

Shinhan Financial Group (NYSE:SHG) last released 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. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $3.79 billion. Shinhan Financial Group had a net margin of 22.38% and a return on equity of 12.45%. Analysts anticipate that Shinhan Financial Group Co Ltd will post 5.97 EPS for the current year.

Institutional Investors Weigh In On Shinhan Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHG. TD Private Client Wealth LLC purchased a new stake in shares of Shinhan Financial Group during the third quarter worth about $42,000. Northwestern Mutual Wealth Management Co. boosted its stake in Shinhan Financial Group by 1,465.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after purchasing an additional 850 shares in the last quarter. Westside Investment Management Inc. purchased a new stake in Shinhan Financial Group during the 2nd quarter worth approximately $47,000. Osaic Holdings Inc. increased its stake in Shinhan Financial Group by 387.3% during the 2nd quarter. Osaic Holdings Inc. now owns 1,306 shares of the bank’s stock valued at $59,000 after purchasing an additional 1,038 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Shinhan Financial Group by 3,831.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,887 shares of the bank’s stock valued at $95,000 after purchasing an additional 1,839 shares in the last quarter. 7.76% of the stock is currently owned by hedge funds and other institutional investors.

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.