Sumitomo Mitsui Financial Group (NYSE:SMFG) Sees Strong Trading Volume – What’s Next?

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) saw an uptick in trading volume on Friday . 1,622,955 shares changed hands during trading, an increase of 35% from the previous session’s volume of 1,205,037 shares.The stock last traded at $14.95 and had previously closed at $14.91.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded 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 Down 0.2 %

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 cap of $97.33 billion, a PE ratio of 12.84, a P/E/G ratio of 3.41 and a beta of 0.63. The firm’s 50-day moving average price is $13.67 and its two-hundred day moving average price is $13.30.

Insiders Place Their Bets

In other Sumitomo Mitsui Financial Group news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were bought 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 owns 9,247,081 shares in the company, valued at approximately $551,773,323.27. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Addison Advisors LLC acquired a new stake in Sumitomo Mitsui Financial Group in the 2nd quarter worth $25,000. Rothschild Investment LLC acquired a new position in Sumitomo Mitsui Financial Group in the second quarter valued at about $45,000. Ashton Thomas Private Wealth LLC acquired a new position in Sumitomo Mitsui Financial Group during the second quarter valued at approximately $59,000. Assetmark Inc. lifted its stake in Sumitomo Mitsui Financial Group by 23.6% in the third quarter. Assetmark Inc. now owns 8,738 shares of the bank’s stock valued at $110,000 after buying an additional 1,669 shares in the last quarter. Finally, AXA S.A. grew its holdings in shares of Sumitomo Mitsui Financial Group by 29.2% during the second quarter. AXA S.A. now owns 9,200 shares of the bank’s stock worth $123,000 after buying an additional 2,081 shares in the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

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.