Shinhan Financial Group (NYSE:SHG) Shares Gap Up to $29.33

Shinhan Financial Group Co., Ltd. (NYSE:SHG) gapped up prior to trading on Thursday . The stock had previously closed at $29.33, but opened at $30.49. Shinhan Financial Group shares last traded at $30.35, with a volume of 17,218 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SHG shares. Bank of America raised Shinhan Financial Group from a “neutral” rating to a “buy” rating in a report on Tuesday, January 16th. StockNews.com cut Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday.

Shinhan Financial Group Price Performance

The stock has a market capitalization of $15.52 billion, a price-to-earnings ratio of 5.02, a price-to-earnings-growth ratio of 0.60 and a beta of 0.91. The company has a 50 day moving average of $33.73 and a 200 day moving average of $30.10. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 1.45.

Shinhan Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Friday, January 1st were paid a $0.3953 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $1.58 annualized dividend and a yield of 5.19%. Shinhan Financial Group’s payout ratio is currently 21.06%.

Hedge Funds Weigh In On Shinhan Financial Group

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new position in Shinhan Financial Group in the fourth quarter valued at $29,000. Financial Management Professionals Inc. increased its stake in Shinhan Financial Group by 2,900.0% during the third quarter. Financial Management Professionals Inc. now owns 1,050 shares of the bank’s stock worth $28,000 after acquiring an additional 1,015 shares during the last quarter. Paradigm Asset Management Co. LLC acquired a new stake in Shinhan Financial Group during the third quarter worth about $40,000. Janiczek Wealth Management LLC increased its stake in Shinhan Financial Group by 46.7% during the third quarter. Janiczek Wealth Management LLC now owns 1,601 shares of the bank’s stock worth $42,000 after acquiring an additional 510 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Shinhan Financial Group by 27.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,612 shares of the bank’s stock worth $50,000 after acquiring an additional 349 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors and hedge funds.

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, Life 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.