StockNews.com lowered shares of Shinhan Financial Group (NYSE:SHG – Free Report) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
Separately, Bank of America raised shares of Shinhan Financial Group from a neutral rating to a buy rating in a research report on Tuesday, January 16th.
Read Our Latest Report on Shinhan Financial Group
Shinhan Financial Group Price Performance
Shinhan Financial Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Friday, January 1st were paid a dividend of $0.3953 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.58 annualized dividend and a dividend yield of 5.19%. Shinhan Financial Group’s dividend payout ratio is currently 21.06%.
Institutional Investors Weigh In On Shinhan Financial Group
A number of large investors have recently added to or reduced their stakes in SHG. Raymond James & Associates acquired a new position in Shinhan Financial Group in the 1st quarter valued at about $488,000. HighTower Advisors LLC acquired a new position in shares of Shinhan Financial Group in the first quarter valued at about $202,000. Citigroup Inc. increased its holdings in shares of Shinhan Financial Group by 522.0% during the first quarter. Citigroup Inc. now owns 85,333 shares of the bank’s stock worth $2,854,000 after purchasing an additional 71,614 shares during the period. PNC Financial Services Group Inc. raised its position in shares of 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 buying an additional 349 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of 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 buying an additional 32,458 shares during the period. Institutional investors 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, 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.
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