Shinhan Financial Group Co., Ltd. (NYSE:SHG – Get Free Report) shares 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 traded.
Analysts Set New Price Targets
A number of brokerages have commented on SHG. Bank of America upgraded Shinhan Financial Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th. StockNews.com lowered Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th.
View Our Latest Stock Report on SHG
Shinhan Financial Group Trading Up 7.3 %
Shinhan Financial Group Dividend Announcement
The business also recently declared 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. The ex-dividend date was Thursday, February 22nd. This represents a $1.58 annualized dividend and a dividend yield of 4.63%. Shinhan Financial Group’s dividend payout ratio (DPR) is presently 21.06%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of SHG. GAMMA Investing LLC acquired a new stake in Shinhan Financial Group in the fourth quarter valued at $29,000. Paradigm Asset Management Co. LLC bought a new position in shares of Shinhan Financial Group in the 3rd quarter worth about $40,000. Allworth Financial LP grew its stake in shares of Shinhan Financial Group by 51.6% in the 3rd quarter. Allworth Financial LP now owns 1,628 shares of the bank’s stock valued at $43,000 after buying an additional 554 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Shinhan Financial Group by 27.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,612 shares of the bank’s stock valued at $50,000 after buying an additional 349 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Shinhan Financial Group during the 3rd quarter valued at about $53,000. 7.76% of the stock is currently owned by institutional investors and hedge funds.
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.
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