Sumitomo Mitsui Financial Group (NYSE:SMFG) Sets New 12-Month High – What’s Next?

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $25.40 and last traded at $25.3350, with a volume of 206509 shares traded. The stock had previously closed at $24.53.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SMFG. Weiss Ratings raised shares of Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday. Wall Street Zen downgraded Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Zacks Research cut Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Stock Up 3.6%

The firm’s 50 day moving average price is $22.82 and its 200-day moving average price is $21.51. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.48. The company has a market cap of $162.06 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 0.66 and a beta of 0.42.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.19%. The business had revenue of $7.31 billion during the quarter. As a group, equities research analysts expect that Sumitomo Mitsui Financial Group Inc will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PFS Partners LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter worth $27,000. Ascentis Independent Advisors bought a new position in Sumitomo Mitsui Financial Group during the first quarter worth about $27,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Sumitomo Mitsui Financial Group during the 3rd quarter worth about $29,000. Sound Income Strategies LLC increased its stake in shares of Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after acquiring an additional 610 shares during the last quarter. Finally, Bayban acquired a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter valued at approximately $30,000. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.