Sumitomo Mitsui Financial Group (NYSE:SMFG) Reaches New 52-Week High – Should You Buy?

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

Analyst Ratings Changes

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

Sumitomo Mitsui Financial Group Stock Performance

The firm has a 50 day moving average of $15.02 and a two-hundred day moving average of $14.06. The stock has a market cap of $102.97 billion, a P/E ratio of 15.44, a P/E/G ratio of 2.36 and a beta of 0.59. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06.

Institutional Trading of Sumitomo Mitsui Financial Group

Hedge funds have recently added to or reduced their stakes in the business. Capital A Wealth Management LLC bought a new stake in Sumitomo Mitsui Financial Group during the 4th quarter valued at approximately $25,000. Bessemer Group Inc. lifted its position in shares of Sumitomo Mitsui Financial Group by 138.1% in the 4th quarter. Bessemer Group Inc. now owns 1,929 shares of the bank’s stock worth $28,000 after acquiring an additional 1,119 shares during the period. Versant Capital Management Inc bought a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $30,000. Park Square Financial Group LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $34,000. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Sumitomo Mitsui Financial Group by 2,178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank’s stock worth $45,000 after acquiring an additional 2,963 shares during the period. Institutional investors own 3.85% of the company’s stock.

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.