Shinhan Financial Group (NYSE:SHG) Shares Gap Down to $37.94

Shinhan Financial Group Co., Ltd. (NYSE:SHG)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $37.94, but opened at $36.18. Shinhan Financial Group shares last traded at $36.10, with a volume of 36,892 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SHG shares. StockNews.com upgraded shares of Shinhan Financial Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. Bank of America upgraded shares of Shinhan Financial Group from a “neutral” rating to a “buy” rating in a report on Tuesday, January 16th.

Shinhan Financial Group Trading Down 2.3 %

The firm has a market capitalization of $18.14 billion, a PE ratio of 6.06, a PEG ratio of 0.68 and a beta of 0.90. The company’s 50-day moving average price is $32.99 and its 200-day moving average price is $29.55. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.01 and a current ratio of 1.02.

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 given a dividend of $0.3953 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.58 annualized dividend and a dividend yield of 4.47%. Shinhan Financial Group’s dividend payout ratio (DPR) is currently 21.06%.

Institutional Investors Weigh In On Shinhan Financial Group

Several institutional investors have recently modified their holdings of SHG. Raymond James & Associates purchased a new stake in Shinhan Financial Group in the first quarter valued at $488,000. HighTower Advisors LLC purchased a new stake in Shinhan Financial Group in the first quarter valued at $202,000. Citigroup Inc. lifted its position in Shinhan Financial Group by 522.0% in the first quarter. Citigroup Inc. now owns 85,333 shares of the bank’s stock valued at $2,854,000 after acquiring an additional 71,614 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Shinhan Financial Group by 3.1% in the first quarter. PNC Financial Services Group Inc. now owns 11,791 shares of the bank’s stock valued at $395,000 after acquiring an additional 349 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Shinhan Financial Group by 1.8% in the first quarter. BlackRock Inc. now owns 1,825,885 shares of the bank’s stock valued at $61,038,000 after acquiring an additional 32,458 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.