Shinhan Financial Group Co., Ltd. (NYSE:SHG) Short Interest Down 35.4% in March

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in shares of Shinhan Financial Group by 249.2% during the fourth quarter. Northern Trust Corp now owns 1,445,120 shares of the bank’s stock worth $47,516,000 after purchasing an additional 1,031,257 shares during the period. Millennium Management LLC bought a new stake in Shinhan Financial Group during the 4th quarter valued at $7,600,000. D. E. Shaw & Co. Inc. acquired a new position in Shinhan Financial Group during the fourth quarter worth $5,830,000. Renaissance Technologies LLC lifted its stake in shares of Shinhan Financial Group by 606.8% in the fourth quarter. Renaissance Technologies LLC now owns 177,400 shares of the bank’s stock valued at $5,833,000 after buying an additional 152,300 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Shinhan Financial Group in the fourth quarter valued at $2,991,000. Institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Trading Up 0.7 %

SHG traded up $0.22 during trading on Monday, hitting $32.09. The company’s stock had a trading volume of 300,032 shares, compared to its average volume of 166,531. The firm has a market capitalization of $16.15 billion, a P/E ratio of 5.04, a PEG ratio of 0.44 and a beta of 0.89. Shinhan Financial Group has a twelve month low of $29.25 and a twelve month high of $46.05. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.53. The stock’s fifty day moving average price is $33.42 and its 200-day moving average price is $36.68.

Shinhan Financial Group (NYSE:SHG) last posted its quarterly earnings results on Tuesday, March 4th. The bank reported $1.94 EPS for the quarter. The business 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%. Analysts anticipate that Shinhan Financial Group will post 5.97 EPS for the current year.

Shinhan Financial Group Company Profile

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.