Sumitomo Mitsui Financial Group (NYSE:SMFG) Reaches New 1-Year High – Here’s What Happened

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $15.56 and last traded at $15.58, with a volume of 109627 shares changing hands. The stock had previously closed at $15.13.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, November 23rd.

Sumitomo Mitsui Financial Group Stock Performance

The business’s 50-day moving average price is $14.70 and its 200-day moving average price is $13.77. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94. The stock has a market cap of $102.33 billion, a PE ratio of 15.19, a P/E/G ratio of 2.35 and a beta of 0.63.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in shares of Sumitomo Mitsui Financial Group by 12.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,921 shares of the bank’s stock worth $5,127,000 after buying an additional 45,761 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in Sumitomo Mitsui Financial Group by 21.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 493,977 shares of the bank’s stock worth $6,239,000 after purchasing an additional 87,993 shares during the last quarter. Capital Insight Partners LLC grew its position in Sumitomo Mitsui Financial Group by 59.9% during the 4th quarter. Capital Insight Partners LLC now owns 49,157 shares of the bank’s stock worth $712,000 after purchasing an additional 18,415 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Sumitomo Mitsui Financial Group by 76.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 576,485 shares of the bank’s stock worth $8,301,000 after purchasing an additional 249,543 shares during the last quarter. Finally, Cerity Partners LLC grew its position in Sumitomo Mitsui Financial Group by 31.7% during the 3rd quarter. Cerity Partners LLC now owns 353,043 shares of the bank’s stock worth $4,459,000 after purchasing an additional 84,989 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.