Sumitomo Mitsui Financial Group (NYSE:SMFG) Sets New 52-Week High – Time to Buy?

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $16.39 and last traded at $16.29, with a volume of 1391322 shares trading hands. The stock had previously closed at $16.19.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Friday.

Sumitomo Mitsui Financial Group Trading Up 2.6 %

The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06. The business has a fifty day simple moving average of $15.19 and a 200 day simple moving average of $14.16. The stock has a market cap of $108.02 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 2.36 and a beta of 0.59.

Institutional Trading of Sumitomo Mitsui Financial Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital A Wealth Management LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth about $25,000. Bessemer Group Inc. lifted its stake in shares of Sumitomo Mitsui Financial Group by 138.1% during the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank’s stock valued at $28,000 after buying an additional 1,119 shares during the period. Versant Capital Management Inc acquired a new stake in Sumitomo Mitsui Financial Group during the fourth quarter worth approximately $30,000. Park Square Financial Group LLC purchased a new stake in Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $34,000. Finally, TD Waterhouse Canada Inc. raised its holdings in 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 valued at $45,000 after acquiring an additional 2,963 shares during the last quarter. Hedge funds and other 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.