Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) Short Interest Up 23.0% in February

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) saw a large growth in short interest in February. As of February 27th, there was short interest totaling 4,141,499 shares, a growth of 23.0% from the February 12th total of 3,366,042 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 2,193,557 shares, the short-interest ratio is presently 1.9 days. Based on an average daily volume of 2,193,557 shares, the short-interest ratio is presently 1.9 days. Currently, 0.1% of the company’s stock are short sold.

Sumitomo Mitsui Financial Group Price Performance

Shares of Sumitomo Mitsui Financial Group stock opened at $19.58 on Wednesday. The business’s fifty day moving average price is $21.46 and its 200 day moving average price is $18.78. Sumitomo Mitsui Financial Group has a twelve month low of $11.83 and a twelve month high of $24.33. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $124.88 billion, a P/E ratio of 16.31, a PEG ratio of 0.75 and a beta of 0.34.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings results on Friday, January 30th. The bank reported $0.16 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.24). The firm had revenue of $17.71 billion for the quarter, compared to analyst estimates of $7.93 billion. Sumitomo Mitsui Financial Group had a return on equity of 9.38% and a net margin of 13.81%. As a group, research analysts anticipate that Sumitomo Mitsui Financial Group will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SMFG shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Monday, December 29th. Zacks Research downgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Finally, Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Sumitomo Mitsui Financial Group currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. PFS Partners LLC purchased a new stake in Sumitomo Mitsui Financial Group during the fourth quarter worth approximately $27,000. Sound Income Strategies LLC raised 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 acquiring an additional 610 shares during the period. Bayban purchased a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter valued at $30,000. True Wealth Design LLC acquired a new position in shares of Sumitomo Mitsui Financial Group during the 3rd quarter valued at $27,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 3,149.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,592 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,543 shares in the last quarter. Hedge funds and other institutional investors 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.