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

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

Analysts Set New Price Targets

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

Sumitomo Mitsui Financial Group Stock 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 firm has a market capitalization of $108.02 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 2.36 and a beta of 0.59. The firm has a fifty day moving average price of $15.19 and a 200 day moving average price of $14.16.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

A number of institutional investors and hedge funds have recently made changes to their positions in SMFG. Capital A Wealth Management LLC acquired a new position in Sumitomo Mitsui Financial Group during the fourth quarter worth about $25,000. Bessemer Group Inc. grew its holdings in shares of Sumitomo Mitsui Financial Group by 138.1% in the 4th quarter. Bessemer Group Inc. now owns 1,929 shares of the bank’s stock worth $28,000 after acquiring an additional 1,119 shares during the period. Versant Capital Management Inc purchased a new position in Sumitomo Mitsui Financial Group in the 4th quarter valued at approximately $30,000. Park Square Financial Group LLC acquired a new position in Sumitomo Mitsui Financial Group during the fourth quarter worth $34,000. Finally, TD Waterhouse Canada Inc. boosted its position in Sumitomo Mitsui Financial Group by 2,178.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank’s stock worth $45,000 after purchasing an additional 2,963 shares in the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

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.