Shinhan Financial Group (NYSE:SHG) Shares Gap Up to $31.85

Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) gapped up before the market opened on Friday . The stock had previously closed at $31.85, but opened at $33.85. Shinhan Financial Group shares last traded at $34.15, with a volume of 22,532 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. Bank of America raised shares of Shinhan Financial Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 16th.

Shinhan Financial Group Stock Performance

The company has a market capitalization of $17.40 billion, a PE ratio of 5.84, a PEG ratio of 0.64 and a beta of 0.91. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.45. The firm’s 50-day simple moving average is $33.54 and its 200-day simple moving average is $30.30.

Shinhan Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Friday, January 1st were given a $0.3953 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.58 annualized dividend and a yield of 4.63%. Shinhan Financial Group’s dividend payout ratio (DPR) is 21.06%.

Institutional Investors Weigh In On Shinhan Financial Group

Large investors have recently modified their holdings of the business. American Century Companies Inc. raised its holdings in shares of Shinhan Financial Group by 9.2% in the 3rd quarter. American Century Companies Inc. now owns 514,638 shares of the bank’s stock valued at $13,633,000 after purchasing an additional 43,516 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Shinhan Financial Group by 147.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 95,773 shares of the bank’s stock worth $2,537,000 after acquiring an additional 57,110 shares in the last quarter. Ritholtz Wealth Management raised its stake in shares of Shinhan Financial Group by 28.8% during the 4th quarter. Ritholtz Wealth Management now owns 62,773 shares of the bank’s stock worth $1,932,000 after acquiring an additional 14,025 shares in the last quarter. M&T Bank Corp bought a new position in shares of Shinhan Financial Group during the 3rd quarter worth approximately $202,000. Finally, Acadian Asset Management LLC raised its stake in shares of Shinhan Financial Group by 6.7% during the 3rd quarter. Acadian Asset Management LLC now owns 90,661 shares of the bank’s stock worth $2,401,000 after acquiring an additional 5,676 shares in the last quarter. Institutional investors own 7.76% of the company’s stock.

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.