Shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG – Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $21.50 and traded as high as $24.74. Sumitomo Mitsui Financial Group shares last traded at $24.5450, with a volume of 1,753,435 shares changing hands.
Analysts Set New Price Targets
Several equities research analysts have commented on SMFG shares. Wall Street Zen lowered Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings raised shares of Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, Zacks Research cut shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.
View Our Latest Stock Report on SMFG
Sumitomo Mitsui Financial Group Trading Up 0.1%
Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. The company had revenue of $7.31 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.19% and a net margin of 15.68%. Equities research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.83 earnings per share for the current year.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. PFS Partners LLC purchased a new stake in Sumitomo Mitsui Financial Group in the 4th quarter worth $27,000. Ascentis Independent Advisors purchased a new position in Sumitomo Mitsui Financial Group during the first quarter valued at $27,000. Pin Oak Investment Advisors Inc. purchased a new position in Sumitomo Mitsui Financial Group during the third quarter valued at $29,000. Sound Income Strategies LLC grew its position in shares of Sumitomo Mitsui Financial Group by 76.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after purchasing an additional 610 shares during the period. Finally, Bayban acquired a new stake in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at about $30,000. 3.85% of the stock is owned by institutional investors and hedge funds.
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.
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