Sumitomo Mitsui Financial Group (NYSE:SMFG) Sets New 52-Week High – What’s Next?

Shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) reached a new 52-week high during trading on Monday . The stock traded as high as $25.82 and last traded at $25.9510, with a volume of 2620440 shares. The stock had previously closed at $25.74.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Zacks Research lowered shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Weiss Ratings upgraded shares of Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Trading Up 0.8%

The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.48. The stock’s 50 day moving average is $23.32 and its two-hundred day moving average is $21.73. The company has a market capitalization of $165.48 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 0.99 and a beta of 0.42.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its earnings results on Tuesday, March 31st. The bank reported $0.18 EPS 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 for the quarter. As a group, sell-side analysts predict that Sumitomo Mitsui Financial Group Inc will post 1.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Several institutional investors have recently bought and sold shares of SMFG. Tudor Investment Corp ET AL boosted its position in shares of Sumitomo Mitsui Financial Group by 112.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 927,179 shares of the bank’s stock worth $15,521,000 after purchasing an additional 490,891 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Sumitomo Mitsui Financial Group by 14.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 736,467 shares of the bank’s stock valued at $14,236,000 after buying an additional 93,024 shares in the last quarter. Ferguson Wellman Capital Management Inc. acquired a new position in Sumitomo Mitsui Financial Group during the 1st quarter valued at about $33,801,000. Moran Wealth Management LLC raised its stake in Sumitomo Mitsui Financial Group by 18.5% in the fourth quarter. Moran Wealth Management LLC now owns 379,568 shares of the bank’s stock valued at $7,337,000 after buying an additional 59,296 shares during the last quarter. Finally, Assetmark Inc. raised its stake in Sumitomo Mitsui Financial Group by 47.8% in the fourth quarter. Assetmark Inc. now owns 150,140 shares of the bank’s stock valued at $2,902,000 after buying an additional 48,569 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

About Sumitomo Mitsui Financial Group

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.