Short Interest in Shinhan Financial Group Co., Ltd. (NYSE:SHG) Rises By 60.0%

Shinhan Financial Group Co., Ltd. (NYSE:SHG) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 465,500 shares, an increase of 60.0% from the November 30th total of 291,000 shares. Based on an average daily volume of 169,200 shares, the days-to-cover ratio is presently 2.8 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. FSC Wealth Advisors LLC purchased a new position in Shinhan Financial Group during the third quarter worth about $76,000. GAMMA Investing LLC boosted its position in shares of Shinhan Financial Group by 45.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,988 shares of the bank’s stock valued at $84,000 after acquiring an additional 621 shares during the last quarter. Waldron Private Wealth LLC purchased a new position in shares of Shinhan Financial Group during the third quarter worth about $126,000. Allspring Global Investments Holdings LLC increased its position in shares of Shinhan Financial Group by 34.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,079 shares of the bank’s stock worth $130,000 after purchasing an additional 789 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Shinhan Financial Group in the third quarter valued at approximately $202,000. Institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Price Performance

Shares of NYSE:SHG opened at $33.18 on Monday. The firm has a market capitalization of $16.70 billion, a PE ratio of 5.21, a P/E/G ratio of 0.57 and a beta of 0.92. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.53. The company has a 50-day moving average price of $37.97 and a two-hundred day moving average price of $39.40. Shinhan Financial Group has a twelve month low of $27.09 and a twelve month high of $46.05.

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

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.