Sumitomo Mitsui Financial Group (NYSE:SMFG) Sets New 12-Month High at $8.60

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG – Get Rating) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $8.60 and last traded at $8.55, with a volume of 74118 shares. The stock had previously closed at $8.09.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SMFG. StockNews.com assumed coverage on Sumitomo Mitsui Financial Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Nomura reaffirmed a “buy” rating on shares of Sumitomo Mitsui Financial Group in a research note on Tuesday, November 1st.

Sumitomo Mitsui Financial Group Stock Up 4.3 %

The firm has a 50 day moving average of $7.16 and a 200 day moving average of $6.35. The firm has a market cap of $62.07 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.75 and a beta of 0.68. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 1.95.

Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Rating) last released its earnings results on Monday, November 14th. The bank reported $0.29 EPS for the quarter, topping the consensus estimate of $0.17 by $0.12. Sumitomo Mitsui Financial Group had a return on equity of 6.88% and a net margin of 15.13%. The business had revenue of $11.48 billion during the quarter. As a group, sell-side analysts predict that Sumitomo Mitsui Financial Group, Inc. will post 0.81 earnings per share for the current year.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

A number of hedge funds have recently added to or reduced their stakes in SMFG. Invesco Ltd. grew its stake in Sumitomo Mitsui Financial Group by 4,169.7% in the first quarter. Invesco Ltd. now owns 4,154,809 shares of the bank’s stock valued at $26,051,000 after acquiring an additional 4,057,499 shares during the period. Jane Street Group LLC grew its stake in Sumitomo Mitsui Financial Group by 8,028.0% in the second quarter. Jane Street Group LLC now owns 4,035,459 shares of the bank’s stock valued at $23,809,000 after acquiring an additional 3,985,810 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Sumitomo Mitsui Financial Group by 526.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,557,985 shares of the bank’s stock valued at $16,039,000 after acquiring an additional 2,149,935 shares during the period. Marshall Wace LLP acquired a new stake in Sumitomo Mitsui Financial Group in the third quarter valued at approximately $9,315,000. Finally, Goldman Sachs Group Inc. grew its stake in Sumitomo Mitsui Financial Group by 16.2% in the second quarter. Goldman Sachs Group Inc. now owns 9,482,362 shares of the bank’s stock valued at $55,947,000 after acquiring an additional 1,324,493 shares during the period. Institutional investors and hedge funds own 1.65% of the company’s stock.

About Sumitomo Mitsui Financial Group

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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.