Shinhan Financial Group Co., Ltd. (NYSE:SHG) Sees Large Drop in Short Interest

Shinhan Financial Group Co., Ltd. (NYSE:SHG - Get Free Report) saw a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 142,900 shares, a decrease of 51.2% from the May 15th total of 292,700 shares. Approximately 0.0% of the company's stock are short sold. Based on an average daily trading volume, of 212,300 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Shinhan Financial Group from a "hold" rating to a "buy" rating in a report on Monday, May 19th.

Shinhan Financial Group Stock Performance

NYSE SHG traded down $1.03 during trading hours on Tuesday, hitting $43.46. The company had a trading volume of 99,968 shares, compared to its average volume of 184,022. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.53. The firm has a market cap of $21.55 billion, a P/E ratio of 6.82, a price-to-earnings-growth ratio of 0.44 and a beta of 0.90. Shinhan Financial Group has a fifty-two week low of $28.76 and a fifty-two week high of $46.05. The business has a fifty day simple moving average of $37.64 and a 200-day simple moving average of $35.08.

Institutional Investors Weigh In On Shinhan Financial Group

A number of large investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in Shinhan Financial Group during the 4th quarter worth about $690,000. AMG National Trust Bank acquired a new stake in shares of Shinhan Financial Group during the fourth quarter worth approximately $1,009,000. Point72 Asset Management L.P. purchased a new position in Shinhan Financial Group during the fourth quarter valued at approximately $434,000. Two Sigma Advisers LP purchased a new position in Shinhan Financial Group during the fourth quarter valued at approximately $296,000. Finally, Public Employees Retirement System of Ohio increased its stake in Shinhan Financial Group by 16.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 61,024 shares of the bank's stock valued at $2,006,000 after buying an additional 8,646 shares during the period. Institutional investors and hedge funds own 7.76% of the company's stock.

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, 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.