Sumitomo Mitsui Financial Group (NYSE:SMFG) Hits New 1-Year High – Here’s Why

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $15.84 and last traded at $15.88, with a volume of 99950 shares. The stock had previously closed at $15.48.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday.

Sumitomo Mitsui Financial Group Stock Up 2.4 %

The stock has a market capitalization of $102.65 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 2.36 and a beta of 0.59. The firm has a 50-day moving average of $14.99 and a 200 day moving average of $14.04. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Several hedge funds and other institutional investors have recently made changes to their positions in SMFG. Park Square Financial Group LLC acquired a new stake in Sumitomo Mitsui Financial Group in the fourth quarter valued at $34,000. Jefferies Financial Group Inc. increased its position in Sumitomo Mitsui Financial Group by 7.6% during the fourth quarter. Jefferies Financial Group Inc. now owns 18,311 shares of the bank’s stock worth $265,000 after buying an additional 1,290 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in Sumitomo Mitsui Financial Group in the fourth quarter valued at approximately $25,000. Forum Financial Management LP raised its stake in Sumitomo Mitsui Financial Group by 15.0% in the fourth quarter. Forum Financial Management LP now owns 222,120 shares of the bank’s stock valued at $3,219,000 after buying an additional 28,997 shares during the period. Finally, Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at approximately $3,508,000. 3.85% of the stock is owned by institutional investors.

About Sumitomo Mitsui Financial Group

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.