Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) Short Interest Up 47.0% in March

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 6,088,105 shares, an increase of 47.0% from the February 26th total of 4,141,499 shares. Based on an average daily volume of 2,720,547 shares, the short-interest ratio is presently 2.2 days. Currently, 0.1% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Zacks Research raised Sumitomo Mitsui Financial Group from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Monday, December 29th. Finally, Wall Street Zen lowered Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC bought a new position in Sumitomo Mitsui Financial Group in the 3rd quarter valued at $27,000. PFS Partners LLC acquired a new position in Sumitomo Mitsui Financial Group in the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Sumitomo Mitsui Financial Group during the third quarter worth $29,000. Sound Income Strategies LLC grew its holdings in shares of Sumitomo Mitsui Financial Group by 76.8% during the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock worth $30,000 after purchasing an additional 610 shares during the last quarter. Finally, Bayban acquired a new stake in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at $30,000. 3.85% of the stock is owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Price Performance

NYSE:SMFG traded down $0.34 on Friday, reaching $19.06. The stock had a trading volume of 1,920,551 shares, compared to its average volume of 2,439,940. The company has a market capitalization of $121.55 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 0.74 and a beta of 0.34. Sumitomo Mitsui Financial Group has a 1-year low of $11.83 and a 1-year high of $24.33. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.63. The stock has a fifty day moving average price of $21.28 and a 200-day moving average price of $18.93.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings data on Friday, January 30th. The bank reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a return on equity of 9.38% and a net margin of 13.81%.The firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $7.93 billion. Research analysts forecast that Sumitomo Mitsui Financial Group will post 0.39 EPS for the current year.

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.