Sumitomo Mitsui Financial Group (NYSE:SMFG) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $20.59 and traded as high as $23.13. Sumitomo Mitsui Financial Group shares last traded at $22.9750, with a volume of 1,455,659 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on SMFG. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Friday, May 22nd. Finally, Zacks Research upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Sumitomo Mitsui Financial Group has an average rating of “Buy”.

Sumitomo Mitsui Financial Group Stock Down 1.9%

The stock has a market cap of $147.63 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 0.64 and a beta of 0.43. The firm’s 50 day moving average is $21.44 and its two-hundred day moving average is $20.66.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings results on Tuesday, March 31st. The bank reported $0.18 EPS for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.57%. The company had revenue of $7.31 billion for the quarter. On average, analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Several large investors have recently made changes to their positions in the company. Modern Wealth Management LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 3.1% during the 1st quarter. Modern Wealth Management LLC now owns 16,042 shares of the bank’s stock valued at $332,000 after buying an additional 482 shares during the period. Bridgewater Advisors Inc. boosted its stake in shares of Sumitomo Mitsui Financial Group by 2.2% during the 4th quarter. Bridgewater Advisors Inc. now owns 24,656 shares of the bank’s stock valued at $513,000 after buying an additional 530 shares during the period. Park Square Financial Group LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 58.0% during the 4th quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock valued at $31,000 after buying an additional 598 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after purchasing an additional 610 shares during the last quarter. Finally, Traveka Wealth LLC lifted its stake in shares of Sumitomo Mitsui Financial Group by 2.3% in the 1st quarter. Traveka Wealth LLC now owns 26,726 shares of the bank’s stock valued at $528,000 after purchasing an additional 613 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 (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.