Short Interest in Shinhan Financial Group Co Ltd (NYSE:SHG) Expands By 73.7%

Shinhan Financial Group Co Ltd (NYSE:SHG) was the target of a large growth in short interest in May. As of May 15th, there was short interest totaling 308,844 shares, a growth of 73.7% from the April 30th total of 177,832 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 213,021 shares, the short-interest ratio is presently 1.4 days.

Institutional Investors Weigh In On Shinhan Financial Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. grew its stake in Shinhan Financial Group by 71.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Shinhan Financial Group in the 4th quarter valued at approximately $38,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Shinhan Financial Group by 1,465.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock valued at $41,000 after acquiring an additional 850 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Shinhan Financial Group by 6,238.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock worth $44,000 after buying an additional 811 shares during the last quarter. Finally, Bell Investment Advisors Inc grew its stake in Shinhan Financial Group by 31.3% during the 1st quarter. Bell Investment Advisors Inc now owns 747 shares of the bank’s stock worth $46,000 after buying an additional 178 shares during the last quarter. 7.76% of the stock is currently owned by hedge funds and other institutional investors.

Shinhan Financial Group Stock Up 3.6%

Shinhan Financial Group stock traded up $2.28 during midday trading on Thursday, hitting $66.25. 63,990 shares of the company were exchanged, compared to its average volume of 280,559. The company’s fifty day moving average price is $64.96 and its 200-day moving average price is $60.72. The company has a market cap of $31.45 billion, a PE ratio of 7.21, a price-to-earnings-growth ratio of 0.51 and a beta of 0.93. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.00 and a quick ratio of 1.00. Shinhan Financial Group has a fifty-two week low of $42.43 and a fifty-two week high of $73.40.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings data on Tuesday, March 31st. The bank reported $1.98 earnings per share (EPS) for the quarter. Shinhan Financial Group had a return on equity of 11.02% and a net margin of 20.07%. On average, research analysts predict that Shinhan Financial Group will post 7.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on SHG shares. Weiss Ratings upgraded Shinhan Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Zacks Research lowered Shinhan Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Shinhan Financial Group has an average rating of “Moderate Buy”.

Shinhan Financial Group Company Profile

Shinhan Financial Group is a South Korea–based financial holding company headquartered in Seoul. Established in 2001 as a banking and financial services group, it brings together a range of financial subsidiaries operating under the Shinhan brand, including commercial banking, card services, life insurance, securities and asset management businesses. The group serves both retail and corporate clients and is one of the leading diversified financial institutions in Korea.

The company’s principal activities span retail and corporate banking, credit card issuance and payment services, life insurance and related protection products, brokerage and investment banking, and asset and wealth management.