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

Shares of Shinhan Financial Group Co., Ltd. (NYSE:SHG - Get Free Report) 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.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com downgraded Shinhan Financial Group from a "buy" rating to a "hold" rating in a research note on Wednesday. Bank of America upgraded Shinhan Financial Group from a "neutral" rating to a "buy" rating in a research note on Tuesday, January 16th.

Shinhan Financial Group Stock Up 3.3 %

The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 1.45. The company's 50 day moving average price is $33.67 and its 200 day moving average price is $30.10. The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of 5.19, a P/E/G ratio of 0.60 and a beta of 0.91.

Shinhan Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Friday, January 1st were paid a $0.3953 dividend. This represents a $1.58 annualized dividend and a dividend yield of 5.22%. The ex-dividend date of this dividend was Thursday, February 22nd. Shinhan Financial Group's payout ratio is 21.06%.

Institutional Investors Weigh In On Shinhan Financial Group

Hedge funds have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. increased its holdings in Shinhan Financial Group by 2,900.0% in the third quarter. Financial Management Professionals Inc. now owns 1,050 shares of the bank's stock valued at $28,000 after buying an additional 1,015 shares in the last quarter. GAMMA Investing LLC purchased a new position in Shinhan Financial Group during the fourth quarter worth approximately $29,000. Paradigm Asset Management Co. LLC purchased a new position in shares of Shinhan Financial Group during the 3rd quarter valued at approximately $40,000. Janiczek Wealth Management LLC lifted its holdings 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 valued at $42,000 after purchasing an additional 510 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in 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 buying an additional 554 shares during the last quarter. 7.76% of the stock is owned by hedge funds and other institutional investors.

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, 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.