Shinhan Financial Group Co., Ltd. (NYSE:SHG – Get Free Report) 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 trading volume, of 147,200 shares, the short-interest ratio is currently 4.8 days. Currently, 0.1% of the shares of the stock are sold short.
Analysts Set New Price Targets
Several analysts have recently issued reports on the stock. StockNews.com lowered shares of Shinhan Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. Bank of America upgraded Shinhan Financial Group from a “neutral” rating to a “buy” rating in a report on Tuesday, January 16th.
Read Our Latest Research Report on SHG
Shinhan Financial Group Trading Up 7.3 %
Shinhan Financial Group (NYSE:SHG – Get Free Report) last issued its earnings results on Thursday, April 18th. The bank reported $0.75 EPS for the quarter. Shinhan Financial Group had a net margin of 12.68% and a return on equity of 7.57%. The company had revenue of $3.14 billion for the quarter. Research analysts forecast that Shinhan Financial Group will post 6 EPS for the current fiscal year.
Shinhan Financial Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Friday, January 1st were given a $0.3953 dividend. The ex-dividend date 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 is currently 19.90%.
Hedge Funds Weigh In On Shinhan Financial Group
Large investors have recently modified their holdings of the business. GAMMA Investing LLC acquired a new position in shares of Shinhan Financial Group in the 4th quarter worth approximately $29,000. Paradigm Asset Management Co. LLC acquired a new position in Shinhan Financial Group during the third quarter worth $40,000. Allspring Global Investments Holdings LLC boosted its position in shares of Shinhan Financial Group by 27.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,612 shares of the bank’s stock worth $50,000 after buying an additional 349 shares during the period. Allworth Financial LP grew its stake in shares of Shinhan Financial Group by 51.6% in the third quarter. Allworth Financial LP now owns 1,628 shares of the bank’s stock valued at $43,000 after buying an additional 554 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Shinhan Financial Group in the 3rd quarter valued at $53,000. Institutional investors and hedge funds own 7.76% of the company’s stock.
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.
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