Short Interest in Shinhan Financial Group Co Ltd (NYSE:SHG) Rises By 151.4%

Key Points

• Short interest surged 151.4% in March to 349,278 shares as of March 31, though this represents just 0.1% of shares outstanding and a days-to-cover of 0.9, limiting immediate squeeze risk.
• Analyst sentiment is bullish with a consensus rating of Strong Buy, backed by recent calls including Weiss Ratings' buy and Zacks' upgrade to strong-buy.
• Key fundamentals: market cap about $31.96 billion, P/E 7.47, and a 12‑month range of $31.39–$73.40, while institutional investors own roughly 7.76% of the stock.

Shinhan Financial Group Co Ltd (NYSE:SHG - Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 349,278 shares, an increase of 151.4% from the March 15th total of 138,932 shares. Based on an average daily volume of 375,958 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SHG shares. Weiss Ratings restated a "buy (b)" rating on shares of Shinhan Financial Group in a report on Friday, March 27th. Zacks Research upgraded shares of Shinhan Financial Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, Shinhan Financial Group currently has a consensus rating of "Strong Buy".

Institutional Trading of Shinhan Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHG. Brown Brothers Harriman & Co. increased its stake in Shinhan Financial Group by 71.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 481 shares of the bank's stock valued at $26,000 after acquiring an additional 200 shares during the period. Kestra Advisory Services LLC bought a new stake in Shinhan Financial Group in the fourth quarter valued at about $38,000. Northwestern Mutual Wealth Management Co. increased its stake in 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 acquiring an additional 850 shares during the period. TD Private Client Wealth LLC bought a new stake in Shinhan Financial Group in the third quarter valued at about $42,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Shinhan Financial Group by 6,238.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 824 shares of the bank's stock valued at $44,000 after acquiring an additional 811 shares during the period. Institutional investors own 7.76% of the company's stock.

Shinhan Financial Group Stock Performance

NYSE SHG opened at $67.33 on Friday. The stock has a market cap of $31.96 billion, a P/E ratio of 7.47, a PEG ratio of 0.54 and a beta of 0.96. The company's 50-day simple moving average is $64.07 and its 200 day simple moving average is $57.08. Shinhan Financial Group has a twelve month low of $31.39 and a twelve month high of $73.40. The company has a quick ratio of 1.03, a current ratio of 1.00 and a debt-to-equity ratio of 1.54.

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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