Short Interest in Shinhan Financial Group Co., Ltd. (NYSE:SHG) Increases 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 trading volume of 169,200 shares, the days-to-cover ratio is currently 2.8 days. Currently, 0.1% of the shares of the stock are sold short.

Shinhan Financial Group Price Performance

SHG opened at $33.18 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $16.70 billion, a P/E ratio of 5.21, a PEG ratio of 0.57 and a beta of 0.92. The stock has a 50-day moving average price of $37.97 and a 200-day moving average price of $39.40. Shinhan Financial Group has a 12-month low of $27.09 and a 12-month high of $46.05.

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

Institutional Investors Weigh In On Shinhan Financial Group

A number of institutional investors have recently made changes to their positions in SHG. Pzena Investment Management LLC lifted its stake in Shinhan Financial Group by 27.9% in the second quarter. Pzena Investment Management LLC now owns 1,082,552 shares of the bank’s stock worth $37,684,000 after purchasing an additional 236,236 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Shinhan Financial Group by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 646,749 shares of the bank’s stock valued at $22,513,000 after acquiring an additional 46,720 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Shinhan Financial Group by 21.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 486,976 shares of the bank’s stock valued at $20,633,000 after acquiring an additional 85,539 shares during the period. Acadian Asset Management LLC grew its position in Shinhan Financial Group by 16.2% during the 2nd quarter. Acadian Asset Management LLC now owns 319,186 shares of the bank’s stock worth $11,106,000 after acquiring an additional 44,402 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in Shinhan Financial Group by 34.5% in the 2nd quarter. Clearbridge Investments LLC now owns 163,705 shares of the bank’s stock worth $5,699,000 after purchasing an additional 41,992 shares during the period. Hedge funds and other institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Company Profile

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.