Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) Sees Large Decline in Short Interest

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 2,055,252 shares, a drop of 38.0% from the November 30th total of 3,314,539 shares. Based on an average daily volume of 2,181,438 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.0% of the shares of the company are sold short. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 2,181,438 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC purchased a new stake in Sumitomo Mitsui Financial Group in the 3rd quarter worth $27,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Sumitomo Mitsui Financial Group in the third quarter worth about $29,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Sumitomo Mitsui Financial Group by 163.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after buying an additional 1,227 shares in the last quarter. NewSquare Capital LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 204.7% in the second quarter. NewSquare Capital LLC now owns 2,029 shares of the bank’s stock worth $31,000 after buying an additional 1,363 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Sumitomo Mitsui Financial Group by 225.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,919 shares of the bank’s stock valued at $32,000 after buying an additional 1,329 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Price Performance

Shares of Sumitomo Mitsui Financial Group stock traded up $0.05 during trading hours on Monday, hitting $19.55. The company’s stock had a trading volume of 1,006,267 shares, compared to its average volume of 1,938,716. The company has a market cap of $125.31 billion, a PE ratio of 16.56, a PEG ratio of 0.95 and a beta of 0.37. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.03 and a current ratio of 1.04. The business has a 50 day moving average price of $17.70 and a two-hundred day moving average price of $16.52. Sumitomo Mitsui Financial Group has a 12-month low of $11.83 and a 12-month high of $19.83.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its earnings results on Friday, November 14th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.19. Sumitomo Mitsui Financial Group had a return on equity of 9.14% and a net margin of 13.80%.The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $7.41 billion. Analysts expect that Sumitomo Mitsui Financial Group will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SMFG shares. Zacks Research lowered Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.