Short Interest in Shinhan Financial Group Co Ltd (NYSE:SHG) Rises By 19.5%

Shinhan Financial Group Co Ltd (NYSE:SHG) was the target of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 319,209 shares, an increase of 19.5% from the January 15th total of 267,012 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 312,850 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily trading volume, of 312,850 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.1% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SHG. Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a research note on Monday, December 29th. Zacks Research raised shares of Shinhan Financial Group from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Shinhan Financial Group Stock Up 0.9%

NYSE:SHG opened at $69.87 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.51. Shinhan Financial Group has a twelve month low of $28.76 and a twelve month high of $73.40. The company has a market cap of $33.92 billion, a PE ratio of 6.80, a P/E/G ratio of 0.56 and a beta of 1.00. The company’s 50 day moving average is $57.59 and its two-hundred day moving average is $53.25.

Hedge Funds Weigh In On Shinhan Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHG. Brown Brothers Harriman & Co. grew its stake in Shinhan Financial Group by 71.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Shinhan Financial Group in the fourth quarter worth about $38,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Shinhan Financial Group by 6,238.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank’s stock worth $44,000 after purchasing an additional 811 shares during the period. TD Private Client Wealth LLC purchased a new stake in Shinhan Financial Group in the third quarter valued at approximately $42,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Shinhan Financial Group by 1,465.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock valued at $41,000 after buying an additional 850 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company’s stock.

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.