Shinhan Financial Group Co Ltd (NYSE:SHG) Stock Short Interest Report for October

Shinhan Financial Group Co Ltd (NYSE:SHG) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 425,767 shares, a decrease of 39.6% from the September 30th total of 705,452 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 217,447 shares, the days-to-cover ratio is presently 2.0 days.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Shinhan Financial Group from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. Wall Street Zen lowered shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Shinhan Financial Group in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Strong Buy”.

Institutional Investors Weigh In On Shinhan Financial Group

Several institutional investors and hedge funds have recently bought and sold shares of SHG. Nykredit A S bought a new stake in shares of Shinhan Financial Group in the 2nd quarter worth approximately $5,326,000. First Trust Advisors LP raised its holdings in shares of Shinhan Financial Group by 107.5% during the first quarter. First Trust Advisors LP now owns 34,286 shares of the bank’s stock valued at $2,102,000 after acquiring an additional 17,759 shares in the last quarter. Corient Private Wealth LP raised its holdings in shares of Shinhan Financial Group by 46.4% during the second quarter. Corient Private Wealth LP now owns 38,537 shares of the bank’s stock valued at $2,437,000 after acquiring an additional 12,212 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Shinhan Financial Group by 40.5% during the first quarter. Quantinno Capital Management LP now owns 173,250 shares of the bank’s stock valued at $10,624,000 after acquiring an additional 49,966 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Shinhan Financial Group by 17.3% in the second quarter. Sequoia Financial Advisors LLC now owns 44,560 shares of the bank’s stock worth $2,818,000 after acquiring an additional 6,558 shares during the period. Hedge funds and other institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Stock Performance

Shinhan Financial Group stock opened at $65.56 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.45. The firm has a 50-day moving average of $76.53 and a 200-day moving average of $68.52. The firm has a market cap of $30.78 billion, a P/E ratio of 8.49, a P/E/G ratio of 0.46 and a beta of 0.98. Shinhan Financial Group has a 1-year low of $51.07 and a 1-year high of $85.57.

Shinhan Financial Group (NYSE:SHG) last posted its earnings results on Friday, August 14th. The bank reported $2.26 earnings per share (EPS) for the quarter. Shinhan Financial Group had a return on equity of 8.81% and a net margin of 15.68%. The company had revenue of $2.96 billion for the quarter. Sell-side analysts expect that Shinhan Financial Group will post 9.38 EPS for the current year.

Shinhan Financial Group Company Profile

Shinhan Financial Group Co, Ltd. is a South Korean financial holding company headquartered in Seoul. Established in 2001, the group operates through subsidiaries that provide a broad range of financial products and services to individuals, businesses and institutional customers.

Its principal businesses include commercial and retail banking through Shinhan Bank; credit card and payment services through Shinhan Card; securities brokerage, investment banking and wealth management through Shinhan Securities; and insurance, consumer finance, leasing and asset-management services through other group affiliates.

Shinhan serves customers primarily in South Korea and maintains an international presence across markets in Asia, North America and other regions.