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

Shinhan Financial Group Co., Ltd. (NYSE:SHG) gapped up prior to trading 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.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SHG shares. Bank of America upgraded shares of Shinhan Financial Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th. StockNews.com downgraded shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th.

Shinhan Financial Group Trading Up 7.3 %

The company has a debt-to-equity ratio of 1.45, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50-day moving average price is $33.56 and its two-hundred day moving average price is $30.38. The company has a market capitalization of $17.40 billion, a price-to-earnings ratio of 5.53, a P/E/G ratio of 0.64 and a beta of 0.91.

Shinhan Financial Group (NYSE:SHG) last released its quarterly earnings results on Thursday, April 18th. The bank reported $0.75 earnings per share for the quarter. Shinhan Financial Group had a net margin of 12.68% and a return on equity of 7.57%. The company had revenue of $3.14 billion during the quarter. Research analysts predict that Shinhan Financial Group Co., Ltd. will post 6 earnings per share for the current year.

Shinhan Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Friday, January 1st were given a dividend of $0.3953 per share. 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 is currently 19.90%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in Shinhan Financial Group during the fourth quarter valued at approximately $29,000. Paradigm Asset Management Co. LLC acquired a new position in Shinhan Financial Group during the third quarter valued at approximately $40,000. Allworth Financial LP raised its position in Shinhan Financial Group by 51.6% during the third quarter. Allworth Financial LP now owns 1,628 shares of the bank’s stock valued at $43,000 after purchasing an additional 554 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of 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 buying an additional 349 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Shinhan Financial Group during the third quarter worth $53,000. 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, 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.