Short Interest in Shinhan Financial Group Co., Ltd. (NYSE:SHG) Rises By 6.5%

Shinhan Financial Group Co., Ltd. (NYSE:SHG) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 160,800 shares, a growth of 6.5% from the September 30th total of 151,000 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 83,300 shares, the short-interest ratio is currently 1.9 days.

NYSE:SHG traded up $0.22 during trading hours on Friday, hitting $37.49. 56,344 shares of the company’s stock traded hands, compared to its average volume of 77,474. The firm has a market cap of $17.54 billion, a P/E ratio of 3.13 and a beta of 0.82. Shinhan Financial Group has a twelve month low of $32.14 and a twelve month high of $40.59. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.08 and a current ratio of 1.08. The stock’s fifty day moving average price is $36.06 and its two-hundred day moving average price is $36.51.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings results on Tuesday, August 20th. The bank reported $3.66 earnings per share for the quarter. The firm had revenue of $3.02 billion for the quarter. Shinhan Financial Group had a return on equity of 12.35% and a net margin of 17.97%.

SHG has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered Shinhan Financial Group from an “overweight” rating to a “neutral” rating in a research report on Monday, August 5th. Zacks Investment Research raised Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a research report on Saturday, July 27th. Finally, Citigroup lowered Shinhan Financial Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock has a consensus rating of “Hold”.

Large investors have recently bought and sold shares of the stock. Baldwin Brothers Inc. MA acquired a new position in Shinhan Financial Group during the third quarter valued at $64,000. Mizuho Securities Co. Ltd. increased its position in Shinhan Financial Group by 33.3% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 2,000 shares of the bank’s stock worth $78,000 after purchasing an additional 500 shares during the last quarter. Lindbrook Capital LLC increased its position in Shinhan Financial Group by 16.0% in the 2nd quarter. Lindbrook Capital LLC now owns 2,302 shares of the bank’s stock worth $89,000 after purchasing an additional 318 shares during the last quarter. Parallel Advisors LLC increased its position in Shinhan Financial Group by 93.1% in the 2nd quarter. Parallel Advisors LLC now owns 3,379 shares of the bank’s stock worth $131,000 after purchasing an additional 1,629 shares during the last quarter. Finally, Cornerstone Advisors Inc. increased its position in Shinhan Financial Group by 12.6% in the 2nd quarter. Cornerstone Advisors Inc. now owns 4,351 shares of the bank’s stock worth $169,000 after purchasing an additional 487 shares during the last quarter. 2.82% of the stock is currently owned by hedge funds and other institutional investors.

About Shinhan Financial Group

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The company operates through five segments: Banking, Credit Cards, Securities, Life Insurance, and Others. It offers retail banking services, including mortgage and home equity, and retail lending; demand, savings, and fixed deposit-taking; checking accounts; 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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