Short Interest in Shinhan Financial Group Co., Ltd. (NYSE:SHG) Decreases By 53.0%

Shinhan Financial Group Co., Ltd. (NYSE:SHG - Get Free Report) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 188,400 shares, a decline of 53.0% from the February 29th total of 401,200 shares. Based on an average daily volume of 130,400 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.0% of the shares of the company are short sold.

Institutional Investors Weigh In On Shinhan Financial Group

Several hedge funds have recently bought and sold shares of SHG. Raymond James & Associates purchased a new stake in shares of Shinhan Financial Group during the first quarter valued at about $488,000. HighTower Advisors LLC acquired a new stake in shares of Shinhan Financial Group in the first quarter worth $202,000. Citigroup Inc. lifted its position in Shinhan Financial Group by 522.0% during the first quarter. Citigroup Inc. now owns 85,333 shares of the bank's stock valued at $2,854,000 after purchasing an additional 71,614 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Shinhan Financial Group by 3.1% in the first quarter. PNC Financial Services Group Inc. now owns 11,791 shares of the bank's stock valued at $395,000 after purchasing an additional 349 shares during the last quarter. Finally, BlackRock Inc. grew its position in Shinhan Financial Group by 1.8% during the 1st quarter. BlackRock Inc. now owns 1,825,885 shares of the bank's stock worth $61,038,000 after purchasing an additional 32,458 shares during the period. 7.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on SHG. StockNews.com upgraded Shinhan Financial Group from a "hold" rating to a "buy" rating in a research note on Wednesday, February 28th. Bank of America raised Shinhan Financial Group from a "neutral" rating to a "buy" rating in a research note on Tuesday, January 16th.

Shinhan Financial Group Price Performance

Shares of NYSE SHG traded up $0.10 during mid-day trading on Thursday, reaching $35.49. 197,112 shares of the company traded hands, compared to its average volume of 140,067. Shinhan Financial Group has a fifty-two week low of $24.99 and a fifty-two week high of $38.65. The stock has a fifty day simple moving average of $33.15 and a 200-day simple moving average of $29.59. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.02 and a quick ratio of 1.01. The firm has a market cap of $18.20 billion, a PE ratio of 6.08, a price-to-earnings-growth ratio of 0.68 and a beta of 0.90.

Shinhan Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Friday, January 1st were issued a dividend of $0.3953 per share. This represents a $1.58 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Thursday, February 22nd. Shinhan Financial Group's dividend payout ratio is 21.06%.

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, Life 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.

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