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

Key Points

• Short interest plunged 32.6% to 201,455 shares as of Feb. 27, leaving a very low short-interest ratio of 0.9 days and effectively 0.0% of shares shorted.
• Analyst sentiment is bullish: Zacks upgraded SHG to a "Strong Buy" on March 5 and MarketBeat's consensus rating is currently Strong Buy (one Strong Buy, one Buy).
• Hedge funds made small increases to positions in Q4 (e.g., Brown Brothers Harriman +71.2%), but institutional ownership remains modest at 7.76%.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 201,455 shares, a drop of 32.6% from the February 12th total of 298,837 shares. Based on an average daily trading volume, of 224,467 shares, the short-interest ratio is presently 0.9 days. Approximately 0.0% of the shares of the stock are short sold. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 224,467 shares, the short-interest ratio is presently 0.9 days.

Institutional Investors Weigh In On Shinhan Financial Group

Hedge funds have recently made changes to their positions in the business. Brown Brothers Harriman & Co. grew its holdings in shares of Shinhan Financial Group by 71.2% during the 4th quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank's stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Shinhan Financial Group during the fourth quarter valued at about $38,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Shinhan Financial Group by 6,238.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank's stock valued at $44,000 after buying an additional 811 shares during the last quarter. TD Private Client Wealth LLC purchased a new position in shares of Shinhan Financial Group in the third quarter worth about $42,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Shinhan Financial Group by 1,465.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 908 shares of the bank's stock valued at $41,000 after acquiring an additional 850 shares during the last quarter. 7.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Zacks Research upgraded Shinhan Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 5th. Weiss Ratings reissued a "buy (b)" rating on shares of Shinhan Financial Group in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Strong Buy".

Shinhan Financial Group Price Performance

NYSE SHG traded down $0.38 during trading hours on Friday, reaching $58.85. 406,320 shares of the stock traded hands, compared to its average volume of 299,032. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.00 and a quick ratio of 1.03. The stock has a 50 day simple moving average of $61.42 and a two-hundred day simple moving average of $55.00. Shinhan Financial Group has a 1 year low of $28.76 and a 1 year high of $73.40. The company has a market cap of $27.93 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 0.48 and a beta of 0.97.

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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