SHG, BFR And USB, 3 Banking Stocks Pushing The Industry Lower

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 30 points (0.2%) at 16,949 as of Wednesday, Aug. 20, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,346 issues advancing vs. 1,589 declining with 185 unchanged.

The Banking industry currently sits down 0.3% versus the S&P 500, which is up 0.1%. A company within the industry that fell today was Mitsubishi UFJ Financial Group ( MTU), up 1.1%. A company within the industry that increased today was HDFC Bank ( HDB), up 0.8%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. Shinhan Financial Group ( SHG) is one of the companies pushing the Banking industry lower today. As of noon trading, Shinhan Financial Group is down $0.88 (-1.7%) to $50.70 on light volume. Thus far, 9,506 shares of Shinhan Financial Group exchanged hands as compared to its average daily volume of 53,000 shares. The stock has ranged in price between $50.51-$50.73 after having opened the day at $50.59 as compared to the previous trading day's close of $51.58.

Shinhan Financial Group Co., Ltd. provides various financial products and services to corporations, institutional investors, governments, and individuals in South Korea and internationally. Shinhan Financial Group has a market cap of $24.4 billion and is part of the financial sector. Shares are up 12.9% year-to-date as of the close of trading on Tuesday. Currently there is 1 analyst that rates Shinhan Financial Group a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Shinhan Financial Group as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and growth in earnings per share. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. Get the full Shinhan Financial Group Ratings Report now.

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