Shinhan Financial Group Co., Ltd. (NYSE:SHG) Short Interest Up 59.7% in April

Shinhan Financial Group Co., Ltd. (NYSE:SHG) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 699,300 shares, a growth of 59.7% from the March 31st total of 437,800 shares. Based on an average daily volume of 147,200 shares, the short-interest ratio is currently 4.8 days. Approximately 0.1% of the shares of the stock are sold short.

Analyst Ratings Changes

SHG has been the topic of a number of research analyst reports. Bank of America upgraded Shinhan Financial Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th. StockNews.com lowered shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th.

Shinhan Financial Group Price Performance

Shares of SHG traded up $2.31 during mid-day trading on Friday, reaching $34.16. 139,217 shares of the company’s stock were exchanged, compared to its average volume of 157,229. Shinhan Financial Group has a 52-week low of $24.99 and a 52-week high of $38.65. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.45. The company has a 50-day simple moving average of $33.56 and a two-hundred day simple moving average of $30.35. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 5.53, a PEG ratio of 0.64 and a beta of 0.91.

Shinhan Financial Group (NYSE:SHG) last released its quarterly earnings results on Thursday, April 18th. The bank reported $0.75 earnings per share for the quarter. Shinhan Financial Group had a return on equity of 7.57% and a net margin of 12.68%. The company had revenue of $3.14 billion during the quarter. On average, sell-side analysts predict that Shinhan Financial Group will post 6 EPS for the current fiscal year.

Shinhan Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Friday, January 1st were issued a $0.3953 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.58 dividend on an annualized basis and a yield of 4.63%. Shinhan Financial Group’s dividend payout ratio (DPR) is 19.90%.

Institutional Investors Weigh In On Shinhan Financial Group

Several hedge funds have recently modified their holdings of SHG. GAMMA Investing LLC acquired a new position in shares of Shinhan Financial Group in the fourth quarter valued at approximately $29,000. Paradigm Asset Management Co. LLC purchased a new stake in Shinhan Financial Group in the 3rd quarter worth approximately $40,000. Allspring Global Investments Holdings LLC raised its holdings in Shinhan Financial Group by 27.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,612 shares of the bank’s stock valued at $50,000 after acquiring an additional 349 shares during the last quarter. Allworth Financial LP raised its holdings in Shinhan Financial Group by 51.6% in the 3rd quarter. Allworth Financial LP now owns 1,628 shares of the bank’s stock valued at $43,000 after acquiring an additional 554 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Shinhan Financial Group during the 3rd quarter worth $53,000. 7.76% of the stock is owned by institutional investors and hedge funds.

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.