Shinhan Financial Group Co Ltd (NYSE:SHG) Sees Significant Growth in Short Interest

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) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totaling 249,400 shares, agrowthof327.1% from the June 30th total of 58,400 shares. Based on an average daily volume of 207,200 shares, the short-interest ratio is currently 1.2 days. Currently,0.1% of the company's shares are sold short. 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 currently 1.2 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wayfinding Financial LLC acquired a new position in shares of Shinhan Financial Group in the first quarter valued at approximately $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Shinhan Financial Group in the first quarter valued at approximately $28,000. Farther Finance Advisors LLC boosted its holdings in shares of Shinhan Financial Group by 240.7% in the second quarter. Farther Finance Advisors LLC now owns 1,908 shares of the bank's stock valued at $86,000 after buying an additional 1,348 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of 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 buying an additional 2,751 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Shinhan Financial Group by 124.9% in the second quarter. GAMMA Investing LLC now owns 3,301 shares of the bank's stock valued at $149,000 after buying an additional 1,833 shares during the period. Institutional investors and hedge funds own 7.76% of the company's stock.

Analyst Ratings Changes

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

Shinhan Financial Group Trading Up 1.5%

NYSE:SHG traded up $0.70 during trading hours on Tuesday, hitting $48.86. The stock had a trading volume of 53,713 shares, compared to its average volume of 236,682. The company has a market cap of $23.72 billion, a price-to-earnings ratio of 6.37, a P/E/G ratio of 0.51 and a beta of 0.93. Shinhan Financial Group has a one year low of $28.76 and a one year high of $52.00. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.04 and a current ratio of 1.04. The business's 50 day moving average is $45.95 and its 200-day moving average is $38.21.

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.