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

Shinhan Financial Group Co., Ltd. (NYSE:SHG)’s share price gapped down before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

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

Shinhan Financial Group Trading Down 2.3 %

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

Shinhan Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Friday, January 1st were issued a dividend of $0.3953 per share. This represents a $1.58 annualized dividend and a yield of 4.47%. The ex-dividend date was Thursday, February 22nd. Shinhan Financial Group’s payout ratio is 21.06%.

Hedge Funds Weigh In On Shinhan Financial Group

Several institutional investors have recently bought and sold shares of SHG. Lazard Asset Management LLC increased its holdings in Shinhan Financial Group by 77.9% during the second quarter. Lazard Asset Management LLC now owns 1,914,904 shares of the bank’s stock valued at $49,902,000 after buying an additional 838,265 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Shinhan Financial Group by 91.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 650,458 shares of the bank’s stock valued at $21,745,000 after buying an additional 310,419 shares during the period. Envestnet Asset Management Inc. increased its holdings in Shinhan Financial Group by 235.6% during the first quarter. Envestnet Asset Management Inc. now owns 293,661 shares of the bank’s stock valued at $2,166,000 after buying an additional 206,165 shares during the period. Brandes Investment Partners LP increased its holdings in Shinhan Financial Group by 54.3% during the fourth quarter. Brandes Investment Partners LP now owns 483,643 shares of the bank’s stock valued at $14,887,000 after buying an additional 170,135 shares during the period. Finally, Ramirez Asset Management Inc. purchased a new position in Shinhan Financial Group in the third quarter worth $4,407,000. 7.76% of the stock is owned by hedge funds and other institutional investors.

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.