Sumitomo Mitsui Financial Group (NYSE:SMFG) Hits New 52-Week High at $10.31

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $10.31 and last traded at $10.29, with a volume of 218982 shares changing hands. The stock had previously closed at $9.96.

Analyst Upgrades and Downgrades

SMFG has been the subject of a number of research analyst reports. The Goldman Sachs Group cut Sumitomo Mitsui Financial Group from a “buy” rating to a “neutral” rating in a report on Thursday, July 20th. StockNews.com began coverage on shares of Sumitomo Mitsui Financial Group in a research report on Thursday, August 17th. They set a “hold” rating on the stock.

Sumitomo Mitsui Financial Group Trading Up 3.2 %

The company’s 50-day moving average is $9.12 and its 200-day moving average is $8.56. The firm has a market cap of $68.75 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 2.13 and a beta of 0.69. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.06 and a current ratio of 1.06.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Monday, July 31st. The bank reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Sumitomo Mitsui Financial Group had a net margin of 11.19% and a return on equity of 6.62%. The company had revenue of $16.56 billion for the quarter. On average, research analysts predict that Sumitomo Mitsui Financial Group, Inc. will post 0.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position in Sumitomo Mitsui Financial Group by 5.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 11,869,012 shares of the bank’s stock valued at $102,074,000 after purchasing an additional 579,175 shares during the period. Lazard Asset Management LLC lifted its position in Sumitomo Mitsui Financial Group by 0.8% during the 1st quarter. Lazard Asset Management LLC now owns 9,029,365 shares of the bank’s stock valued at $56,614,000 after purchasing an additional 69,960 shares during the period. BlackRock Inc. lifted its position in Sumitomo Mitsui Financial Group by 6.4% during the 3rd quarter. BlackRock Inc. now owns 7,069,327 shares of the bank’s stock valued at $38,881,000 after purchasing an additional 424,005 shares during the period. FMR LLC raised its position in shares of Sumitomo Mitsui Financial Group by 13.9% in the 1st quarter. FMR LLC now owns 6,355,224 shares of the bank’s stock valued at $50,842,000 after acquiring an additional 774,378 shares during the period. Finally, Invesco Ltd. raised its position in shares of Sumitomo Mitsui Financial Group by 4,169.7% in the 1st 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. 1.62% of the stock is currently owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.