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

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s share price reached a new 52-week high on Monday . The stock traded as high as $14.60 and last traded at $14.47, with a volume of 138430 shares changing hands. The stock had previously closed at $14.27.

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 research note on Saturday.

Sumitomo Mitsui Financial Group Price Performance

The company has a 50-day moving average of $13.06 and a 200-day moving average of $13.06. The stock has a market capitalization of $94.71 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 3.23 and a beta of 0.59. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.05 and a current ratio of 1.06.

Insider Activity at Sumitomo Mitsui Financial Group

In other news, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of the stock in a transaction on Thursday, September 19th. The stock was purchased at an average cost of $59.67 per share, with a total value of $551,773,323.27. Following the purchase, the director now owns 9,247,081 shares of the company’s stock, valued at approximately $551,773,323.27. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Boston Partners increased its stake in Sumitomo Mitsui Financial Group by 56.6% in the first quarter. Boston Partners now owns 251,597 shares of the bank’s stock valued at $2,959,000 after purchasing an additional 90,959 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 10.8% during the 2nd quarter. QRG Capital Management Inc. now owns 436,417 shares of the bank’s stock worth $5,852,000 after acquiring an additional 42,675 shares during the period. Crossmark Global Holdings Inc. boosted its position in shares of Sumitomo Mitsui Financial Group by 21.7% in the third quarter. Crossmark Global Holdings Inc. now owns 493,977 shares of the bank’s stock worth $6,239,000 after acquiring an additional 87,993 shares during the last quarter. &PARTNERS purchased a new stake in Sumitomo Mitsui Financial Group in the second quarter valued at approximately $410,000. Finally, Capital Wealth Planning LLC raised its stake in Sumitomo Mitsui Financial Group by 36.0% during the second quarter. Capital Wealth Planning LLC now owns 320,467 shares of the bank’s stock worth $4,297,000 after purchasing an additional 84,901 shares during the period. 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, 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.