Shinhan Financial Group Co., Ltd. (NYSE:SHG) Short Interest Down 17.8% in February

Shinhan Financial Group Co., Ltd. (NYSE:SHG) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 728,800 shares, a decline of 17.8% from the February 13th total of 886,100 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 262,500 shares, the days-to-cover ratio is currently 2.8 days.

Hedge Funds Weigh In On Shinhan Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its stake in Shinhan Financial Group by 249.2% during the fourth quarter. Northern Trust Corp now owns 1,445,120 shares of the bank’s stock worth $47,516,000 after buying an additional 1,031,257 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Shinhan Financial Group by 4.4% in the 4th quarter. Lazard Asset Management LLC now owns 1,353,820 shares of the bank’s stock valued at $44,513,000 after purchasing an additional 57,640 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Shinhan Financial Group by 5.7% in the 4th quarter. American Century Companies Inc. now owns 786,028 shares of the bank’s stock valued at $25,845,000 after purchasing an additional 42,575 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Shinhan Financial Group by 14.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 558,550 shares of the bank’s stock valued at $18,365,000 after purchasing an additional 71,574 shares during the last quarter. Finally, Causeway Capital Management LLC lifted its stake in shares of Shinhan Financial Group by 6.8% in the 4th quarter. Causeway Capital Management LLC now owns 325,639 shares of the bank’s stock valued at $10,707,000 after purchasing an additional 20,766 shares during the last quarter. Institutional investors and hedge funds own 7.76% of the company’s stock.

Shinhan Financial Group Price Performance

Shares of SHG traded up $0.48 during trading hours on Wednesday, hitting $32.82. 353,862 shares of the stock were exchanged, compared to its average volume of 159,773. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.04 and a current ratio of 1.04. Shinhan Financial Group has a 12-month low of $29.25 and a 12-month high of $46.05. The company has a market cap of $16.52 billion, a price-to-earnings ratio of 5.15, a price-to-earnings-growth ratio of 0.44 and a beta of 0.89. The stock’s 50-day moving average price is $33.70 and its two-hundred day moving average price is $37.22.

Shinhan Financial Group (NYSE:SHG) last released its quarterly earnings data on Tuesday, March 4th. The bank reported $1.94 earnings per share for the quarter. The company had revenue of $2.82 billion for the quarter. Shinhan Financial Group had a return on equity of 7.34% and a net margin of 12.21%. Research analysts expect that Shinhan Financial Group will post 5.97 earnings per share for the current year.

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.