Shinhan Financial Group Co., Ltd. (NYSE:SHG) Sees Large Drop in Short Interest

Shinhan Financial Group Co., Ltd. (NYSE:SHG) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 470,700 shares, a decrease of 35.4% from the February 28th total of 728,800 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 262,400 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Investors Weigh In On Shinhan Financial Group

A number of hedge funds have recently made changes to their positions in SHG. Northern Trust Corp grew its position in Shinhan Financial Group by 249.2% during the fourth quarter. Northern Trust Corp now owns 1,445,120 shares of the bank’s stock valued at $47,516,000 after buying an additional 1,031,257 shares during the period. Millennium Management LLC bought a new position in shares of Shinhan Financial Group during the 4th quarter valued at approximately $7,600,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of Shinhan Financial Group during the 4th quarter worth approximately $5,830,000. Renaissance Technologies LLC raised its holdings in shares of Shinhan Financial Group by 606.8% in the 4th quarter. Renaissance Technologies LLC now owns 177,400 shares of the bank’s stock worth $5,833,000 after purchasing an additional 152,300 shares during the period. Finally, Voloridge Investment Management LLC purchased a new position in Shinhan Financial Group in the fourth quarter valued at approximately $2,991,000. 7.76% of the stock is currently owned by institutional investors.

Shinhan Financial Group Stock Up 0.7 %

Shares of SHG stock traded up $0.22 during trading hours on Monday, reaching $32.09. The company had a trading volume of 300,032 shares, compared to its average volume of 166,531. The company has a market cap of $16.15 billion, a price-to-earnings ratio of 5.04, a price-to-earnings-growth ratio of 0.44 and a beta of 0.89. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.04 and a quick ratio of 1.04. Shinhan Financial Group has a 12 month low of $29.25 and a 12 month high of $46.05. The business has a fifty day simple moving average of $33.42 and a 200-day simple moving average of $36.68.

Shinhan Financial Group (NYSE:SHG) last posted its earnings results on Tuesday, March 4th. The bank reported $1.94 earnings per share (EPS) for the quarter. The firm had revenue of $2.82 billion during the quarter. Shinhan Financial Group had a net margin of 12.21% and a return on equity of 7.34%. On average, research analysts expect that Shinhan Financial Group will post 5.97 earnings per share for the current fiscal year.

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.