Short Interest in Shinhan Financial Group Co Ltd (NYSE:SHG) Drops By 32.6%

Shinhan Financial Group Co Ltd (NYSE:SHG) was the target of a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 201,455 shares, a decline of 32.6% from the February 12th total of 298,837 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 224,467 shares, the short-interest ratio is currently 0.9 days. Based on an average daily volume of 224,467 shares, the short-interest ratio is currently 0.9 days. Approximately 0.0% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, Shinhan Financial Group has an average rating of “Strong Buy”.

Shinhan Financial Group Trading Down 0.6%

Shinhan Financial Group stock traded down $0.38 during mid-day trading on Friday, reaching $58.85. 406,320 shares of the company traded hands, compared to its average volume of 299,032. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.00 and a quick ratio of 1.03. Shinhan Financial Group has a 52-week low of $28.76 and a 52-week high of $73.40. The firm has a market capitalization of $27.93 billion, a price-to-earnings ratio of 6.54, a P/E/G ratio of 0.48 and a beta of 0.97. The firm’s 50 day moving average price is $61.42 and its 200 day moving average price is $55.00.

Institutional Investors Weigh In On Shinhan Financial Group

Several hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. lifted its position in Shinhan Financial Group by 71.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank’s stock valued at $26,000 after buying an additional 200 shares during the period. Kestra Advisory Services LLC bought a new stake in Shinhan Financial Group during the fourth quarter worth about $38,000. Caitong International Asset Management Co. Ltd grew its holdings in Shinhan Financial Group by 6,238.5% in 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 position in shares of Shinhan Financial Group during the third quarter valued at approximately $42,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Shinhan Financial Group by 1,465.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank’s stock worth $41,000 after purchasing an additional 850 shares in the last quarter. 7.76% of the stock is currently owned by institutional investors.

About Shinhan Financial Group

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.