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

Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG) gapped up before the market opened 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 changing hands.

Analyst Upgrades and Downgrades

SHG has been the topic of several research analyst reports. Bank of America upgraded Shinhan Financial Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th. StockNews.com cut Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday.

Shinhan Financial Group Trading Up 3.9 %

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

Shinhan Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Friday, January 1st were given a dividend of $0.3953 per share. This represents a $1.58 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend was Thursday, February 22nd. Shinhan Financial Group’s dividend payout ratio (DPR) is presently 21.06%.

Hedge Funds Weigh In On Shinhan Financial Group

Hedge funds have recently modified their holdings of the stock. Financial Management Professionals Inc. grew its holdings in shares of Shinhan Financial Group by 2,900.0% in the 3rd 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. GAMMA Investing LLC acquired a new position in shares of Shinhan Financial Group in the 4th quarter worth $29,000. Paradigm Asset Management Co. LLC acquired a new position in shares of Shinhan Financial Group in the 3rd quarter worth $40,000. Janiczek Wealth Management LLC grew its holdings in shares of Shinhan Financial Group by 46.7% in the 3rd 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, Allworth Financial LP grew its holdings in shares of Shinhan Financial Group by 51.6% in the 3rd quarter. Allworth Financial LP now owns 1,628 shares of the bank’s stock worth $43,000 after acquiring an additional 554 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.