Short Interest in Shinhan Financial Group Co Ltd (NYSE:SHG) Expands By 327.1%

Key Points

• Short interest in Shinhan Financial Group increased by 327.1% from June 30th to July 15th, reaching a total of 249,400 shares.
• The company's shares are currently trading down 3.1%, with a recent price of $47.17 and a market capitalization of $22.90 billion.
• Wall Street Zen has upgraded Shinhan Financial Group’s rating from "hold" to "buy", indicating positive sentiment among analysts.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 249,400 shares, anincreaseof327.1% from the June 30th total of 58,400 shares. Currently,0.1% of the company's shares are sold short. Based on an average daily volume of 207,200 shares, the short-interest ratio is presently 1.2 days. Based on an average daily volume of 207,200 shares, the short-interest ratio is presently 1.2 days. Currently,0.1% of the company's shares are sold short.

Institutional Trading of Shinhan Financial Group

Hedge funds have recently added to or reduced their stakes in the stock. Wayfinding Financial LLC purchased a new stake in shares of Shinhan Financial Group in the 1st quarter valued at $25,000. Cullen Frost Bankers Inc. purchased a new stake in Shinhan Financial Group during the 1st quarter valued at about $28,000. Westside Investment Management Inc. bought a new position in Shinhan Financial Group during the 2nd quarter worth approximately $47,000. Farther Finance Advisors LLC increased its stake in Shinhan Financial Group by 240.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,908 shares of the bank's stock worth $86,000 after purchasing an additional 1,348 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Shinhan Financial Group by 1,884.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,897 shares of the bank's stock valued at $95,000 after purchasing an additional 2,751 shares during the last quarter. Institutional investors own 7.76% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised Shinhan Financial Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd.

Shinhan Financial Group Stock Up 0.1%

SHG stock traded up $0.06 during trading on Thursday, reaching $49.80. The stock had a trading volume of 29,790 shares, compared to its average volume of 235,498. Shinhan Financial Group has a one year low of $28.76 and a one year high of $52.00. The company's 50 day moving average is $46.28 and its two-hundred day moving average is $38.36. The company has a market capitalization of $24.18 billion, a price-to-earnings ratio of 4.99, a P/E/G ratio of 0.53 and a beta of 0.93. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.51.

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.