Shinhan Financial Group Co Ltd (NYSE:SHG) Short Interest Down 29.4% in April

Key Points

• Short interest fell 29.4% in April to 246,597 shares, leaving a short-interest ratio of 1.0 days and roughly 0.1% of the company's shares sold short as of April 15.
• Wall Street sentiment is upbeat: the MarketBeat consensus is a "Strong Buy" after Zacks upgraded the stock and Weiss Ratings reaffirmed a buy.
• The stock trades with a market capitalization of $31.72 billion, a P/E of 7.42 and a 52‑week range of $34.36 to $73.40.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 246,597 shares, a decline of 29.4% from the March 31st total of 349,278 shares. Based on an average daily trading volume, of 246,399 shares, the short-interest ratio is currently 1.0 days. Currently, 0.1% of the company's shares are sold short.

Institutional Investors Weigh In On Shinhan Financial Group

Several institutional investors have recently bought and sold shares of SHG. Brown Brothers Harriman & Co. lifted its stake in Shinhan Financial Group by 71.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank's stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Shinhan Financial Group during the 4th quarter worth approximately $38,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Shinhan Financial Group by 1,465.5% during 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 during the last quarter. TD Private Client Wealth LLC acquired a new position in shares of Shinhan Financial Group during the 3rd quarter worth approximately $42,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Shinhan Financial Group by 6,238.5% during the 4th 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 last quarter. Institutional investors own 7.76% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on SHG shares. Zacks Research raised Shinhan Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Shinhan Financial Group in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Strong Buy".

Shinhan Financial Group Trading Up 0.7%

NYSE SHG opened at $66.83 on Tuesday. The stock has a market capitalization of $31.72 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 0.52 and a beta of 0.96. The stock's 50 day moving average price is $64.55 and its two-hundred day moving average price is $58.44. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.00 and a current ratio of 1.00. Shinhan Financial Group has a 52 week low of $34.36 and a 52 week high of $73.40.

Shinhan Financial Group Company Profile

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.

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