Shinhan Financial Group Co., Ltd. (NYSE:SHG) Sees Significant Decrease in Short Interest

Shinhan Financial Group Co., Ltd. (NYSE:SHG) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 273,700 shares, a decrease of 37.4% from the October 31st total of 437,400 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 138,100 shares, the days-to-cover ratio is presently 2.0 days.

Shinhan Financial Group Stock Performance

NYSE:SHG traded up $0.95 on Thursday, hitting $40.26. The stock had a trading volume of 224,736 shares, compared to its average volume of 128,754. The business’s 50-day simple moving average is $40.85 and its two-hundred day simple moving average is $39.22. The stock has a market cap of $20.51 billion, a price-to-earnings ratio of 6.32, a price-to-earnings-growth ratio of 0.65 and a beta of 0.93. Shinhan Financial Group has a 52-week low of $27.09 and a 52-week 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.

Shinhan Financial Group (NYSE:SHG) last announced its earnings results on Friday, October 25th. The bank reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.02. The business had revenue of $3.11 billion during the quarter. Shinhan Financial Group had a net margin of 12.21% and a return on equity of 7.34%. As a group, research analysts predict that Shinhan Financial Group will post 6.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. raised its stake in Shinhan Financial Group by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 83,524 shares of the bank’s stock worth $3,608,000 after acquiring an additional 3,550 shares during the period. World Investment Advisors LLC bought a new position in Shinhan Financial Group in the 3rd quarter worth $609,000. Sanctuary Advisors LLC increased its stake in Shinhan Financial Group by 8.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 9,210 shares of the bank’s stock worth $366,000 after buying an additional 735 shares in the last quarter. M&T Bank Corp purchased a new position in shares of Shinhan Financial Group in the third quarter valued at about $237,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Shinhan Financial Group in the third quarter worth about $2,219,000. 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.