Shinhan Financial Group (NYSE:SHG) Sees Strong Trading Volume – Here’s Why

Shinhan Financial Group Co Ltd (NYSE:SHG) saw unusually-high trading volume on Monday . Approximately 325,060 shares changed hands during trading, an increase of 67% from the previous session’s volume of 194,269 shares.The stock last traded at $51.23 and had previously closed at $49.59.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Shinhan Financial Group from a “hold” rating to a “buy” rating in a report on Monday, May 19th.

Shinhan Financial Group Price Performance

The firm has a market cap of $25.40 billion, a PE ratio of 6.67, a PEG ratio of 0.61 and a beta of 0.92. The firm has a fifty day simple moving average of $42.15 and a two-hundred day simple moving average of $36.45. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.04 and a current ratio of 1.04.

Hedge Funds Weigh In On Shinhan Financial Group

Several institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in shares of Shinhan Financial Group by 14.7% in the 1st quarter. Bessemer Group Inc. now owns 4,077 shares of the bank’s stock valued at $131,000 after purchasing an additional 522 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Shinhan Financial Group in the 4th quarter valued at approximately $690,000. GAMMA Investing LLC lifted its stake in shares of Shinhan Financial Group by 2,895.7% in the 1st quarter. GAMMA Investing LLC now owns 47,093 shares of the bank’s stock valued at $1,468,000 after purchasing an additional 45,521 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Shinhan Financial Group by 19.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,976 shares of the bank’s stock valued at $320,000 after purchasing an additional 1,655 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Shinhan Financial Group by 45.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 27,201 shares of the bank’s stock valued at $873,000 after purchasing an additional 8,507 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company’s stock.

About Shinhan Financial Group

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.