Short Interest in Shinhan Financial Group Co., Ltd. (NYSE:SHG) Grows By 30.2%

Shinhan Financial Group Co., Ltd. (NYSE:SHG) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 791,100 shares, an increase of 30.2% from the September 15th total of 607,400 shares. Based on an average trading volume of 124,100 shares, the days-to-cover ratio is presently 6.4 days. Approximately 0.2% of the company’s shares are sold short.

Shinhan Financial Group Stock Down 3.1 %

Shares of SHG stock traded down $1.33 during mid-day trading on Tuesday, hitting $41.87. The stock had a trading volume of 117,035 shares, compared to its average volume of 128,408. Shinhan Financial Group has a 12-month low of $25.09 and a 12-month high of $46.05. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s 50-day moving average is $42.17 and its two-hundred day moving average is $37.61. The firm has a market capitalization of $21.33 billion, a P/E ratio of 6.75, a price-to-earnings-growth ratio of 0.74 and a beta of 0.92.

Shinhan Financial Group (NYSE:SHG) last announced its quarterly earnings results on Friday, July 26th. The bank reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.19. The firm had revenue of $3.25 billion during the quarter. Shinhan Financial Group had a net margin of 12.23% and a return on equity of 7.16%. On average, analysts predict that Shinhan Financial Group will post 6.22 earnings per share for the current fiscal year.

Institutional Trading of Shinhan Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of SHG. GAMMA Investing LLC raised its stake in shares of Shinhan Financial Group by 68.1% during the 1st quarter. GAMMA Investing LLC now owns 1,577 shares of the bank’s stock worth $56,000 after acquiring an additional 639 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Shinhan Financial Group in the 1st quarter worth $61,000. Allspring Global Investments Holdings LLC boosted its position in shares of Shinhan Financial Group by 42.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,290 shares of the bank’s stock worth $81,000 after purchasing an additional 678 shares in the last quarter. Janiczek Wealth Management LLC grew its stake in Shinhan Financial Group by 25.2% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,886 shares of the bank’s stock worth $103,000 after buying an additional 581 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in Shinhan Financial Group during the 2nd quarter valued at about $107,000. Institutional investors own 7.76% of the company’s stock.

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.