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

Shinhan Financial Group Co., Ltd. (NYSE: SHG – Get Rating) benefited from significant growth in short-term interest rates in June. As of June 30, there were short interests totaling 426,800 shares, a growth of 67.4% from the total of 255,000 shares as of June 15. Based on an average daily trading volume of 129,800 shares, the day-to-cover ratio is currently 3.3 days.

Analysts set new price targets

Separately, upgraded Shinhan Financial Group from a “hold” rating to a “buy” rating in a Thursday, May 12 research rating.

Shinhan Financial Group Stock up 0.2%

SHG traded down $0.06 on Friday, hitting $25.50. The company’s stock had a trading volume of 193,506 shares, compared to an average trading volume of 152,439. The stock has a market capitalization of $13.08 billion, a price-earnings ratio of 3.94 and a beta of 0.80. Shinhan Financial Group has a 1-year low of $25.17 and a 1-year high of $34.92. The company has a debt ratio of 1.60, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50-day moving average is $31.05 and its 200-day moving average is $32.01.

Shinhan Financial Group (NYSE:SHG – Get Rating) last released its quarterly results on Thursday, April 21. The bank reported EPS of $2.12 for the quarter. The company had revenue of $3.19 billion in the quarter. Shinhan Financial Group achieved a return on equity of 8.51% and a net margin of 20.66%.

Shinhan Financial Group Dividend Announcement

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The company also recently announced a semi-annual dividend, which was paid on Friday, May 13. Shareholders of record on Thursday, March 31 received a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 30. Shinhan Financial Group’s dividend payout ratio is currently 7.41%.

Institutional entries and exits

A number of large investors have recently bought and sold shares of SHG. Russell Investments Group Ltd. increased its holdings of Shinhan Financial Group shares by 1.8% in Q4. Russell Investments Group Ltd. now owns 112,283 shares of the bank worth $3,469,000 after purchasing an additional 1,961 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in Shinhan Financial Group by 27.1% in Q4. Pinnacle Wealth Planning Services Inc. now owns 10,460 shares of the bank valued at $323,000 after acquiring 2,229 additional shares during the period. Signaturefd LLC increased its position in Shinhan Financial Group by 5.1% in Q4. Signaturefd LLC now owns 31,106 shares of the bank valued at $961,000 after acquiring an additional 1,513 shares during the period. DGS Capital Management LLC acquired a new stake in Shinhan Financial Group in Q4 valued at approximately $263,000. Finally, Yousif Capital Management LLC acquired a new stake in Shinhan Financial Group in Q4 valued at approximately $247,000. Institutional investors hold 7.63% of the company’s shares.

About Shinhan Financial Group

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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, life insurance, credit and others. It offers retail banking services, including demand, 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 funds transfer services.

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