Shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.15 and traded as high as $26.59. Sumitomo Mitsui Financial Group shares last traded at $26.3450, with a volume of 1,671,561 shares.
Analyst Ratings Changes
A number of research firms have issued reports on SMFG. Zacks Research cut Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. 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, September 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.
Check Out Our Latest Stock Analysis on Sumitomo Mitsui Financial Group
Sumitomo Mitsui Financial Group Stock Up 2.8%
Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The bank reported $0.49 earnings per share (EPS) for the quarter. Sumitomo Mitsui Financial Group had a net margin of 16.24% and a return on equity of 10.65%. The business had revenue of $8.71 billion during the quarter. As a group, sell-side analysts forecast that Sumitomo Mitsui Financial Group Inc will post 1.81 EPS for the current fiscal year.
Insiders Place Their Bets
In other Sumitomo Mitsui Financial Group news, CFO Kazuyuki Anchi sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $42.47, for a total value of $169,880.00. Following the completion of the transaction, the chief financial officer owned 48,857 shares in the company, valued at $2,074,956.79. This represents a 7.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.05% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of SMFG. Morgan Stanley lifted its stake in Sumitomo Mitsui Financial Group by 1.9% in the fourth quarter. Morgan Stanley now owns 21,541,139 shares of the bank’s stock valued at $416,390,000 after purchasing an additional 404,435 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Sumitomo Mitsui Financial Group by 1.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 10,997,774 shares of the bank’s stock valued at $212,587,000 after purchasing an additional 161,026 shares during the last quarter. Northern Trust Corp raised its position in shares of Sumitomo Mitsui Financial Group by 2.6% in the third quarter. Northern Trust Corp now owns 5,743,128 shares of the bank’s stock valued at $96,140,000 after purchasing an additional 147,963 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Sumitomo Mitsui Financial Group by 7.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,090,741 shares of the bank’s stock worth $61,042,000 after buying an additional 217,929 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Sumitomo Mitsui Financial Group by 0.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,151,904 shares of the bank’s stock valued at $41,596,000 after acquiring an additional 19,520 shares during the period. 3.85% of the stock is owned by institutional investors.
Sumitomo Mitsui Financial Group Company Profile
Sumitomo Mitsui Financial Group, Inc (SMFG) is a Japanese financial services holding company and the parent organization of Sumitomo Mitsui Banking Corporation (SMBC). The group provides a broad range of financial products and services to individuals, businesses, institutional clients and public-sector organizations.
Its principal activities include commercial and investment banking, retail banking, corporate lending, deposits, payments, foreign exchange and trade finance. Through affiliated companies, SMFG also offers securities brokerage and underwriting, asset management, leasing, credit cards, consumer finance and other specialized financial services.
SMFG traces its heritage to the historical Sumitomo and Mitsui banking businesses.
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