Sumitomo Mitsui Financial Group (NYSE:SMFG) Shares Gap Up to $6.02

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFGGet Rating)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $6.02, but opened at $6.20. Sumitomo Mitsui Financial Group shares last traded at $6.05, with a volume of 9,645 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Bank of America raised Sumitomo Mitsui Financial Group from a “neutral” rating to a “buy” rating in a report on Thursday, June 23rd. StockNews.com lowered Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research note on Sunday, May 29th.

Sumitomo Mitsui Financial Group Stock Performance

The company has a market capitalization of $41.65 billion, a P/E ratio of 6.54, a price-to-earnings-growth ratio of 0.55 and a beta of 0.74. The firm has a 50 day moving average price of $6.08 and a two-hundred day moving average price of $6.17. The company has a debt-to-equity ratio of 2.48, a quick ratio of 1.03 and a current ratio of 1.03.

Sumitomo Mitsui Financial Group (NYSE:SMFGGet Rating) last released its quarterly earnings data on Friday, July 29th. The bank reported $0.28 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 6.84% and a net margin of 16.86%. The company had revenue of $10.28 billion for the quarter. On average, research analysts expect that Sumitomo Mitsui Financial Group, Inc. will post 0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

A number of large investors have recently bought and sold shares of SMFG. Invesco Ltd. grew its position in Sumitomo Mitsui Financial Group by 4,169.7% during the 1st quarter. Invesco Ltd. now owns 4,154,809 shares of the bank’s stock worth $26,051,000 after acquiring an additional 4,057,499 shares during the last quarter. Jane Street Group LLC boosted its position in Sumitomo Mitsui Financial Group by 8,028.0% in the 2nd quarter. Jane Street Group LLC now owns 4,035,459 shares of the bank’s stock valued at $23,809,000 after buying an additional 3,985,810 shares during the last quarter. LMR Partners LLP bought a new position in Sumitomo Mitsui Financial Group in the 4th quarter valued at $18,772,000. Arrowstreet Capital Limited Partnership boosted its position in Sumitomo Mitsui Financial Group by 526.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,557,985 shares of the bank’s stock valued at $16,039,000 after buying an additional 2,149,935 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Sumitomo Mitsui Financial Group by 20.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 9,449,638 shares of the bank’s stock valued at $64,163,000 after buying an additional 1,596,520 shares during the last quarter. 1.92% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Company Profile

(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.

Further Reading

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