Shinhan Financial Group Co., Ltd. (NYSE:SHG) sees a significant increase in short-term interest


Shinhan Financial Group Co., Ltd. (NYSE: SHGGet a rating) was the target of strong short-term interest growth in March. As of March 31, there was short interest totaling 399,700 shares, up 27.3% from the total of 313,900 shares as of March 15. Based on an average daily volume of 160,700 shares, the day-to-cover ratio is currently 2.5 days.

Separately, StockNews.com upgraded shares of Shinhan Financial Group from a “hold” rating to a “buy” rating in a research note on Friday.

Shares of NYSE: SHG was trading down $0.26 in midday trading on Monday, hitting $32.68. The stock recorded trading volume of 94,376 shares, compared to an average trading volume of 157,320 shares. The company’s 50-day moving average price is $32.49 and its 200-day moving average price is $32.28. The company has a market capitalization of $16.88 billion, a P/E ratio of 5.18 and a beta of 0.77. The company has a quick ratio of 1.05, a current ratio of 1.02 and a debt ratio of 1.62. Shinhan Financial Group has a fifty-two week low of $29.00 and a fifty-two week high of $39.17.

Shinhan Financial Group (NYSE: SHGGet a rating) last released its results on Thursday, March 3. The bank reported EPS of $0.68 for the quarter. The company had revenue of $2.65 billion in the quarter. Shinhan Financial Group achieved a net margin of 18.63% and a return on equity of 8.17%.

Major investors have recently changed their stake in the company. Invesco Ltd. increased its position in Shinhan Financial Group by 1.1% during the 4th quarter. Invesco Ltd. now owns 32,252 shares of the bank worth $997,000 after buying 354 more shares last quarter. Veriti Management LLC increased its stake in Shinhan Financial Group by 0.9% during the fourth quarter. Veriti Management LLC now owns 44,104 shares of the bank worth $1,363,000 after acquiring 408 additional shares in the last quarter. M&T Bank Corp increased its holdings in Shinhan Financial Group by 6.0% during the fourth quarter. M&T Bank Corp now owns 8,029 shares in the bank worth $248,000 after acquiring 453 more shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its stake in Shinhan Financial Group by 6.2% during Q3. Pinnacle Wealth Planning Services Inc. now owns 8,231 shares of the bank worth $277,000 after acquiring 478 additional shares in the last quarter. Finally, Glassman Wealth Services increased its stake in Shinhan Financial Group by 103.8% during the 4th quarter. Glassman Wealth Services now owns 1,017 shares of the bank worth $31,000 after acquiring 518 additional shares in the last quarter. Institutional investors hold 7.66% of the company’s shares.

About Shinhan Financial Group (Get a rating)

Shinhan Financial Group Co, Ltd. provides financial products and services in South Korea and internationally. The Company operates through five segments: banking, credit card, securities, life insurance and others. It offers retail banking services, including application, savings and taking fixed deposits; verify accounts; mortgages and home equity, and personal loans; electronic banking services and automated teller machines (ATMs); and bill payment, payroll and check cashing, currency exchange and money transfer services.

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