Sumitomo Mitsui Financial Group (NYSE:SMFG) Sets New 52-Week High – Time to Buy?

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $15.25 and last traded at $15.25, with a volume of 1478 shares traded. The stock had previously closed at $14.81.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, November 23rd.

Sumitomo Mitsui Financial Group Stock Performance

The stock has a 50-day moving average of $13.22 and a 200 day moving average of $13.15. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.05 and a current ratio of 1.06. The firm has a market capitalization of $100.27 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 3.35 and a beta of 0.59.

Insider Activity at Sumitomo Mitsui Financial Group

In related news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average price of $59.67 per share, with a total value of $551,773,323.27. Following the completion of the acquisition, the director now directly owns 9,247,081 shares in the company, valued at approximately $551,773,323.27. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.05% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Sumitomo Mitsui Financial Group by 266.5% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,800 shares of the bank’s stock valued at $8,258,000 after acquiring an additional 447,800 shares during the last quarter. Benson Investment Management Company Inc. acquired a new position in Sumitomo Mitsui Financial Group in the third quarter valued at approximately $5,182,000. FMR LLC boosted its stake in Sumitomo Mitsui Financial Group by 5.0% in the third quarter. FMR LLC now owns 7,193,840 shares of the bank’s stock valued at $90,858,000 after acquiring an additional 342,604 shares during the last quarter. Leuthold Group LLC acquired a new stake in Sumitomo Mitsui Financial Group during the 3rd quarter worth $3,907,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Sumitomo Mitsui Financial Group by 844.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 326,942 shares of the bank’s stock valued at $4,129,000 after acquiring an additional 292,334 shares during the last quarter. 3.85% of the stock is currently 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.