Shinhan Financial Group Co Ltd (NYSE:SHG) Short Interest Update

Shinhan Financial Group Co Ltd (NYSE:SHG) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 349,278 shares, an increase of 151.4% from the March 15th total of 138,932 shares. Based on an average daily volume of 375,958 shares, the short-interest ratio is presently 0.9 days. Currently, 0.1% of the company’s shares are short sold.

Shinhan Financial Group Trading Up 0.9%

Shares of SHG opened at $67.88 on Tuesday. Shinhan Financial Group has a 1-year low of $31.86 and a 1-year high of $73.40. The company has a 50-day moving average of $64.26 and a 200 day moving average of $57.27. The firm has a market capitalization of $32.22 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 0.54 and a beta of 0.96. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.00 and a quick ratio of 1.03.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SHG shares. Zacks Research raised shares of Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat, Shinhan Financial Group currently has an average rating of “Strong Buy”.

Institutional Investors Weigh In On Shinhan Financial Group

Several large investors have recently modified their holdings of the business. Millennium Management LLC grew its position in shares of Shinhan Financial Group by 152.0% in the 1st quarter. Millennium Management LLC now owns 582,570 shares of the bank’s stock worth $18,689,000 after buying an additional 351,413 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Shinhan Financial Group by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 323,444 shares of the bank’s stock worth $10,376,000 after buying an additional 118,548 shares during the last quarter. American Century Companies Inc. grew its position in Shinhan Financial Group by 11.3% during the 3rd quarter. American Century Companies Inc. now owns 1,089,798 shares of the bank’s stock worth $54,893,000 after purchasing an additional 110,787 shares during the last quarter. Arbiter Partners Capital Management LLC increased its stake in Shinhan Financial Group by 246.4% during the 3rd quarter. Arbiter Partners Capital Management LLC now owns 137,169 shares of the bank’s stock valued at $6,909,000 after purchasing an additional 97,569 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in Shinhan Financial Group by 6.0% during the 4th quarter. Lazard Asset Management LLC now owns 1,671,184 shares of the bank’s stock valued at $89,626,000 after purchasing an additional 94,449 shares in the last quarter. 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.