Shinhan Financial Group Co., Ltd. (NYSE:SHG) Short Interest Down 37.7% in October

Shinhan Financial Group Co., Ltd. (NYSE:SHG) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 492,800 shares, a drop of 37.7% from the September 30th total of 791,100 shares. Based on an average daily volume of 134,400 shares, the days-to-cover ratio is presently 3.7 days. Currently, 0.1% of the company’s shares are sold short.

Hedge Funds Weigh In On Shinhan Financial Group

Large investors have recently added to or reduced their stakes in the business. Caprock Group LLC raised its stake in shares of Shinhan Financial Group by 2.1% during the second quarter. Caprock Group LLC now owns 13,785 shares of the bank’s stock valued at $480,000 after acquiring an additional 286 shares during the last quarter. Profund Advisors LLC raised its stake in shares of Shinhan Financial Group by 3.5% during the second quarter. Profund Advisors LLC now owns 9,537 shares of the bank’s stock valued at $332,000 after acquiring an additional 323 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Shinhan Financial Group by 6.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,224 shares of the bank’s stock valued at $251,000 after acquiring an additional 421 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Shinhan Financial Group by 6.4% during the second quarter. EverSource Wealth Advisors LLC now owns 7,368 shares of the bank’s stock valued at $256,000 after acquiring an additional 445 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Shinhan Financial Group by 1.5% during the first quarter. Signaturefd LLC now owns 36,655 shares of the bank’s stock valued at $1,301,000 after acquiring an additional 545 shares during the last quarter. Hedge funds and other institutional investors own 7.76% of the company’s stock.

Shinhan Financial Group Price Performance

Shares of NYSE:SHG opened at $41.32 on Friday. The stock has a market cap of $21.05 billion, a PE ratio of 6.57, a PEG ratio of 0.72 and a beta of 0.92. The company’s fifty day moving average is $42.35 and its 200 day moving average is $37.99. Shinhan Financial Group has a 52 week low of $25.09 and a 52 week high of $46.05. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.50.

Shinhan Financial Group (NYSE:SHG) last issued its earnings results on Friday, July 26th. The bank reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.19. The company had revenue of $3.25 billion for the quarter. Shinhan Financial Group had a net margin of 12.23% and a return on equity of 7.16%. Research analysts anticipate that Shinhan Financial Group will post 6.22 earnings per share for the current year.

About Shinhan Financial Group

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.