Shinhan Financial Group (NYSE:SHG) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Shinhan Financial Group (NYSE:SHG) from a buy rating to a hold rating in a research report released on Wednesday.

Separately, Bank of America raised Shinhan Financial Group from a neutral rating to a buy rating in a report on Tuesday, January 16th.

Shinhan Financial Group Price Performance

Shinhan Financial Group stock opened at $29.34 on Wednesday. Shinhan Financial Group has a one year low of $24.99 and a one year high of $38.65. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.01 and a current ratio of 1.02. The business has a fifty day moving average of $33.73 and a two-hundred day moving average of $30.10. The company has a market cap of $14.95 billion, a P/E ratio of 5.02, a price-to-earnings-growth ratio of 0.60 and a beta of 0.91.

Shinhan Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Friday, January 1st were issued a $0.3953 dividend. This represents a $1.58 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend was Thursday, February 22nd. Shinhan Financial Group’s dividend payout ratio (DPR) is currently 21.06%.

Institutional Investors Weigh In On Shinhan Financial Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SHG. Lazard Asset Management LLC boosted its position in shares of Shinhan Financial Group by 77.9% in the 2nd quarter. Lazard Asset Management LLC now owns 1,914,904 shares of the bank’s stock worth $49,902,000 after buying an additional 838,265 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Shinhan Financial Group by 91.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 650,458 shares of the bank’s stock worth $21,745,000 after buying an additional 310,419 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Shinhan Financial Group by 235.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 293,661 shares of the bank’s stock worth $2,166,000 after buying an additional 206,165 shares in the last quarter. Brandes Investment Partners LP boosted its position in shares of Shinhan Financial Group by 54.3% in the 4th quarter. Brandes Investment Partners LP now owns 483,643 shares of the bank’s stock worth $14,887,000 after buying an additional 170,135 shares in the last quarter. Finally, Ramirez Asset Management Inc. purchased a new stake in shares of Shinhan Financial Group in the 3rd quarter worth about $4,407,000. Institutional investors and hedge funds 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, 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.