Shinhan Financial Group Co Ltd (NYSE:SHG) Short Interest Update

Key Points

• Shinhan Financial Group experienced a significant 34.4% decrease in short interest in August, dropping from 157,400 shares to 103,200 shares.
• The company's stock price increased by 1.0%, with shares opening at $49.35 and a market capitalization of approximately $23.96 billion.
• Wall Street analysts downgraded Shinhan Financial Group from a "buy" to a "hold" rating, reflecting a cautious outlook on the stock.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 103,200 shares, a decrease of 34.4% from the August 15th total of 157,400 shares. Based on an average daily trading volume, of 197,900 shares, the short-interest ratio is currently 0.5 days. Currently, 0.0% of the company's stock are short sold. Currently, 0.0% of the company's stock are short sold. Based on an average daily trading volume, of 197,900 shares, the short-interest ratio is currently 0.5 days.

Shinhan Financial Group Stock Up 1.0%

Shares of NYSE:SHG opened at $49.35 on Monday. The stock has a market capitalization of $23.96 billion, a price-to-earnings ratio of 4.94, a price-to-earnings-growth ratio of 0.53 and a beta of 0.96. Shinhan Financial Group has a 1-year low of $28.76 and a 1-year high of $52.00. The company's fifty day moving average is $48.85 and its two-hundred day moving average is $41.06. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.03 and a current ratio of 1.03.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Shinhan Financial Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th.

Hedge Funds Weigh In On Shinhan Financial Group

A number of institutional investors and hedge funds have recently bought and sold shares of SHG. Wayfinding Financial LLC purchased a new stake in Shinhan Financial Group during the first quarter valued at about $25,000. Cullen Frost Bankers Inc. bought a new position in shares of Shinhan Financial Group during the first quarter valued at $28,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Shinhan Financial Group by 1,465.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank's stock valued at $41,000 after buying an additional 850 shares during the last quarter. Westside Investment Management Inc. bought a new stake in Shinhan Financial Group during the 2nd quarter worth about $47,000. Finally, Osaic Holdings Inc. grew its position in shares of Shinhan Financial Group by 387.3% during the 2nd quarter. Osaic Holdings Inc. now owns 1,306 shares of the bank's stock worth $59,000 after buying an additional 1,038 shares during the period. 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.

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