Sumitomo Mitsui Financial Grp (SMFG) Sees Large Volume Increase

Sumitomo Mitsui Financial Grp, Inc. (NYSE:SMFG) shares saw strong trading volume on Friday . 5,643,046 shares traded hands during mid-day trading, an increase of 153% from the previous session’s volume of 2,232,000 shares.The stock last traded at $7.15 and had previously closed at $7.09.

A number of equities analysts have recently weighed in on the company. ValuEngine raised Sumitomo Mitsui Financial Grp from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Zacks Investment Research cut Sumitomo Mitsui Financial Grp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 26th. Finally, Citigroup assumed coverage on Sumitomo Mitsui Financial Grp in a report on Tuesday, November 13th. They issued a “neutral” rating for the company.

The firm has a market capitalization of $49.49 billion, a price-to-earnings ratio of 7.08, a price-to-earnings-growth ratio of 1.14 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.99 and a quick ratio of 0.99.

Sumitomo Mitsui Financial Grp (NYSE:SMFG) last released its quarterly earnings results on Wednesday, November 14th. The bank reported $0.32 earnings per share for the quarter. Sumitomo Mitsui Financial Grp had a return on equity of 6.95% and a net margin of 13.14%. The company had revenue of $13.69 billion during the quarter. On average, research analysts anticipate that Sumitomo Mitsui Financial Grp, Inc. will post 1.05 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. raised its holdings in shares of Sumitomo Mitsui Financial Grp by 142.2% in the third quarter. Cornerstone Advisors Inc. now owns 3,165 shares of the bank’s stock worth $25,000 after acquiring an additional 1,858 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Sumitomo Mitsui Financial Grp by 14.5% in the third quarter. Neuberger Berman Group LLC now owns 24,151 shares of the bank’s stock valued at $194,000 after purchasing an additional 3,059 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in Sumitomo Mitsui Financial Grp by 16.8% in the third quarter. Rehmann Capital Advisory Group now owns 31,779 shares of the bank’s stock valued at $255,000 after purchasing an additional 4,578 shares during the last quarter. Jacobi Capital Management LLC increased its stake in Sumitomo Mitsui Financial Grp by 53.4% in the third quarter. Jacobi Capital Management LLC now owns 20,505 shares of the bank’s stock valued at $165,000 after purchasing an additional 7,140 shares during the last quarter. Finally, Todd Asset Management LLC increased its stake in Sumitomo Mitsui Financial Grp by 0.4% in the third quarter. Todd Asset Management LLC now owns 1,902,811 shares of the bank’s stock valued at $15,280,000 after purchasing an additional 7,532 shares during the last quarter. 2.54% of the stock is owned by institutional investors.

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About Sumitomo Mitsui Financial Grp (NYSE:SMFG)

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services primarily in Japan. It operates through four segments: Wholesale Business, Retail Business, International Business, and Global Markets Business.

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