Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) Short Interest Update

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFGGet Rating) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 3,860,000 shares, an increase of 27.8% from the March 31st total of 3,020,000 shares. Based on an average daily volume of 2,990,000 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.1% of the company’s stock are sold short.

Several research analysts have recently issued reports on SMFG shares. The Goldman Sachs Group began coverage on Sumitomo Mitsui Financial Group in a research report on Wednesday, April 27th. They set a “buy” rating for the company. StockNews.com cut Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. Bank of America cut Sumitomo Mitsui Financial Group from a “buy” rating to a “neutral” rating in a research report on Monday, April 11th. Finally, Zacks Investment Research cut Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 14th.

Several hedge funds have recently modified their holdings of the company. LMR Partners LLP purchased a new position in Sumitomo Mitsui Financial Group in the 4th quarter valued at approximately $18,772,000. Goldman Sachs Group Inc. increased its stake in Sumitomo Mitsui Financial Group by 29.0% in the 3rd quarter. Goldman Sachs Group Inc. now owns 7,853,118 shares of the bank’s stock valued at $55,050,000 after purchasing an additional 1,765,786 shares in the last quarter. Citigroup Inc. increased its stake in Sumitomo Mitsui Financial Group by 102.2% in the 4th quarter. Citigroup Inc. now owns 2,332,720 shares of the bank’s stock valued at $15,839,000 after purchasing an additional 1,178,912 shares in the last quarter. Castleark Management LLC purchased a new position in Sumitomo Mitsui Financial Group in the 4th quarter valued at approximately $7,096,000. Finally, Morgan Stanley increased its stake in Sumitomo Mitsui Financial Group by 10.2% in the 2nd quarter. Morgan Stanley now owns 8,531,266 shares of the bank’s stock valued at $58,780,000 after purchasing an additional 789,643 shares in the last quarter. 3.02% of the stock is owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group stock opened at $6.02 on Wednesday. The stock has a market capitalization of $41.37 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 0.47 and a beta of 0.74. The stock has a 50 day moving average of $6.49 and a two-hundred day moving average of $6.82. Sumitomo Mitsui Financial Group has a twelve month low of $5.87 and a twelve month high of $7.74.

Sumitomo Mitsui Financial Group (NYSE:SMFGGet Rating) last issued its earnings results on Wednesday, February 2nd. The bank reported $0.22 earnings per share (EPS) for the quarter. The business had revenue of $9.07 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 6.02% and a net margin of 17.50%. As a group, equities analysts predict that Sumitomo Mitsui Financial Group will post 0.84 EPS for the current year.

About Sumitomo Mitsui Financial Group (Get Rating)

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through four segments: Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit.

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