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

Shinhan Financial Group Co., Ltd. (NYSE:SHG) shares 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.

Analysts Set New Price Targets

A number of brokerages have commented on SHG. StockNews.com cut shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Bank of America upgraded shares of Shinhan Financial Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 16th.

Shinhan Financial Group Trading Up 7.3 %

The company has a market cap of $17.40 billion, a price-to-earnings ratio of 5.53, a price-to-earnings-growth ratio of 0.64 and a beta of 0.91. The company’s fifty day moving average price is $33.56 and its two-hundred day moving average price is $30.38. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.45.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.75 earnings per share for the quarter. The company had revenue of $3.14 billion during the quarter. Shinhan Financial Group had a net margin of 12.68% and a return on equity of 7.57%. Research analysts expect 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. Stockholders of record on Friday, January 1st were issued a dividend of $0.3953 per share. This represents a $1.58 annualized dividend and a dividend yield of 4.63%. The ex-dividend date was Thursday, February 22nd. Shinhan Financial Group’s payout ratio is 19.90%.

Institutional Trading of Shinhan Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Shinhan Financial Group by 27.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,612 shares of the bank’s stock valued at $50,000 after purchasing an additional 349 shares in the last quarter. CWM LLC increased its holdings in shares of Shinhan Financial Group by 16.1% in the third quarter. CWM LLC now owns 3,387 shares of the bank’s stock valued at $90,000 after purchasing an additional 470 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Shinhan Financial Group by 2.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 19,063 shares of the bank’s stock valued at $587,000 after purchasing an additional 527 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Shinhan Financial Group by 51.6% in 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. Finally, Janiczek Wealth Management LLC increased its holdings in shares of Shinhan Financial Group by 25.2% in the first quarter. Janiczek Wealth Management LLC now owns 2,886 shares of the bank’s stock valued at $103,000 after purchasing an additional 581 shares in the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

About Shinhan Financial Group

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.