Sumitomo Mitsui Financial Group (NYSE:SMFG) Hits New 1-Year High – Time to Buy?

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $16.39 and last traded at $16.29, with a volume of 1391322 shares traded. The stock had previously closed at $16.19.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a research note on Thursday, March 13th.

Sumitomo Mitsui Financial Group Price Performance

The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $105.49 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.36 and a beta of 0.59. The stock has a fifty day moving average of $15.11 and a two-hundred day moving average of $14.12.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its stake in shares of Sumitomo Mitsui Financial Group by 7.5% during the fourth quarter. Farther Finance Advisors LLC now owns 10,946 shares of the bank’s stock valued at $159,000 after purchasing an additional 763 shares during the last quarter. Wealthstream Advisors Inc. lifted its holdings in Sumitomo Mitsui Financial Group by 7.4% during the 4th quarter. Wealthstream Advisors Inc. now owns 11,483 shares of the bank’s stock worth $166,000 after buying an additional 794 shares in the last quarter. Pitcairn Co. boosted its position in Sumitomo Mitsui Financial Group by 2.6% in the 4th quarter. Pitcairn Co. now owns 34,133 shares of the bank’s stock valued at $495,000 after buying an additional 876 shares during the last quarter. Richardson Financial Services Inc. increased its stake in shares of Sumitomo Mitsui Financial Group by 36.8% in the 4th quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank’s stock valued at $51,000 after buying an additional 940 shares during the period. Finally, Lindbrook Capital LLC raised its position in shares of Sumitomo Mitsui Financial Group by 5.2% during the fourth quarter. Lindbrook Capital LLC now owns 19,343 shares of the bank’s stock worth $280,000 after acquiring an additional 948 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Company Profile

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.