The establishment of new banks opened in Taiwan in 1990 after. The financial industry is from the oligopoly market into a complete competitive market. This paper discusses: the evolution of stock price trends in the financial industry from 2002 to 2010. The result found: the average annual stock price of the most financial industry is less than 30 dollars during the sample period. Taiwan's legislature promulgated the "Financial Holding Company Law" in 2001, the financial holding company forms of cross-industry business in the financial industry. Since the establishment of financial holding companies, the stock prices of the financial industry- financial holding companies are relatively competitive? This paper uses t-test, test whether the annual average price is significant difference in the financial industry- financial holding companies and non-financial holding companies. The result finds that financial holding companies's stock price is higher than the non-financial holding companies'. In addition, this study uses multiple regression models to explore the relationship among earnings, book value, dividends, industry and stock prices .The empirical results: dividend, book value, earnings and industry is positively correlated with stock price. This paper confirmed: dividend, book value, earnings affect stock price .The establishment of financial holding companies is a key factor in stock price changes. Further study classified the sample as surplus and negative earnings to explore the relationship among earnings, book value, dividends, industry and stock prices. The results showed that: if it is a financial holding company and the dividend amounts will affect the stock prices of the financial companies that have better operating performance. On the contrary, the book value is key factor of the financial companies which performed poorly.