Sumitomo Mitsui Financial Grp (SMFG) Sees Unusually-High Trading Volume

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Sumitomo Mitsui Financial Grp, Inc. (NYSE:SMFG) saw an uptick in trading volume on Friday . 5,643,046 shares changed 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.

Several brokerages have weighed in on SMFG. Citigroup began coverage on Sumitomo Mitsui Financial Grp in a research note on Tuesday, November 13th. They issued a “neutral” rating on the stock. ValuEngine upgraded Sumitomo Mitsui Financial Grp from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. Finally, Zacks Investment Research downgraded Sumitomo Mitsui Financial Grp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 26th.

The company has a market cap of $49.49 billion, a price-to-earnings ratio of 7.08, a P/E/G 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 announced its 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 for the quarter. On average, analysts expect that Sumitomo Mitsui Financial Grp, Inc. will post 1.05 EPS for the current year.

Several institutional investors have recently bought and sold shares of the stock. Cornerstone Advisors Inc. boosted its stake 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 valued at $25,000 after buying an additional 1,858 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of 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 buying an additional 3,059 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of 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 buying an additional 4,578 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in shares of 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 buying an additional 7,140 shares in the last quarter. Finally, Todd Asset Management LLC boosted its stake in shares of 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 buying an additional 7,532 shares in the last quarter. Hedge funds and other institutional investors own 2.54% of the company’s stock.

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Sumitomo Mitsui Financial Grp Company Profile (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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