Drive Wealth Management LLC Acquires New Position in Shinhan Financial Group Co., Ltd. (NYSE:SHG)

Drive Wealth Management LLC bought a new position in shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,137 shares of the bank’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SHG. FSC Wealth Advisors LLC acquired a new position in shares of Shinhan Financial Group in the 3rd quarter valued at $76,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Shinhan Financial Group by 42.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,290 shares of the bank’s stock worth $81,000 after acquiring an additional 678 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Shinhan Financial Group by 45.4% during the third quarter. GAMMA Investing LLC now owns 1,988 shares of the bank’s stock worth $84,000 after purchasing an additional 621 shares during the period. Fifth Third Bancorp bought a new position in shares of Shinhan Financial Group during the 2nd quarter valued at about $107,000. Finally, Waldron Private Wealth LLC acquired a new position in shares of Shinhan Financial Group in the 3rd quarter valued at approximately $126,000. Institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Stock Performance

Shares of SHG opened at $38.18 on Tuesday. The firm has a market cap of $19.45 billion, a P/E ratio of 5.99, a PEG ratio of 0.62 and a beta of 0.93. Shinhan Financial Group Co., Ltd. has a twelve month low of $27.09 and a twelve month high of $46.05. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50 day moving average price is $41.17 and its two-hundred day moving average price is $39.00.

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

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.