Shinhan Financial Group Co., Ltd. (NYSE:SHG) Sees Significant Drop in Short Interest

Shinhan Financial Group Co., Ltd. (NYSE:SHG - Get Free Report) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totalling 492,800 shares, a decrease of 37.7% from the September 30th total of 791,100 shares. Approximately 0.1% of the company's stock are short sold. Based on an average trading volume of 134,400 shares, the days-to-cover ratio is presently 3.7 days.

Shinhan Financial Group Stock Up 1.2 %

SHG stock traded up $0.50 during trading on Friday, reaching $41.32. The stock had a trading volume of 143,644 shares, compared to its average volume of 127,438. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $21.05 billion, a price-to-earnings ratio of 6.57, a P/E/G ratio of 0.72 and a beta of 0.92. Shinhan Financial Group has a one year low of $25.09 and a one year high of $46.05. The company's 50 day moving average is $42.35 and its two-hundred day moving average is $38.04.

Shinhan Financial Group (NYSE:SHG - Get Free Report) last released its earnings results on Friday, October 25th. The bank reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.02. The company had revenue of $3.11 billion during the quarter. Shinhan Financial Group had a return on equity of 7.16% and a net margin of 12.23%. Equities research analysts forecast that Shinhan Financial Group will post 6.22 EPS for the current year.

Institutional Investors Weigh In On Shinhan Financial Group

Several large investors have recently made changes to their positions in SHG. Lazard Asset Management LLC grew its position in Shinhan Financial Group by 2.7% during the first quarter. Lazard Asset Management LLC now owns 1,298,302 shares of the bank's stock valued at $46,075,000 after buying an additional 34,597 shares during the period. Pzena Investment Management LLC increased its stake in shares of Shinhan Financial Group by 27.9% during the 2nd quarter. Pzena Investment Management LLC now owns 1,082,552 shares of the bank's stock worth $37,684,000 after purchasing an additional 236,236 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Shinhan Financial Group by 7.8% in the 2nd quarter. American Century Companies Inc. now owns 646,749 shares of the bank's stock worth $22,513,000 after purchasing an additional 46,720 shares during the period. Acadian Asset Management LLC lifted its stake in Shinhan Financial Group by 16.2% in the second quarter. Acadian Asset Management LLC now owns 319,186 shares of the bank's stock valued at $11,106,000 after purchasing an additional 44,402 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in Shinhan Financial Group by 14.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 177,972 shares of the bank's stock valued at $6,316,000 after purchasing an additional 22,536 shares during the period. 7.76% of the stock is owned by hedge funds and other institutional investors.

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.