Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) Sees Large Growth in Short Interest

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) saw a large increase in short interest in February. As of February 13th, there was short interest totaling 3,366,042 shares, an increase of 25.5% from the January 29th total of 2,681,971 shares. Based on an average trading volume of 2,601,235 shares, the short-interest ratio is presently 1.3 days. Approximately 0.1% of the shares of the stock are short sold. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 2,601,235 shares, the short-interest ratio is presently 1.3 days.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SMFG shares. Zacks Research cut Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. One 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’s stock. According to data from MarketBeat.com, Sumitomo Mitsui Financial Group has a consensus rating of “Hold”.

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG opened at $20.75 on Thursday. The company has a market cap of $132.37 billion, a P/E ratio of 17.29, a PEG ratio of 0.80 and a beta of 0.34. Sumitomo Mitsui Financial Group has a fifty-two week low of $11.83 and a fifty-two week high of $24.33. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.63. The firm’s 50 day moving average price is $21.40 and its 200 day moving average price is $18.56.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted 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 business had revenue of $17.71 billion during 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%. On average, research analysts forecast that Sumitomo Mitsui Financial Group will post 0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

A number of hedge funds have recently bought and sold shares of SMFG. PFS Partners LLC acquired a new position in shares of Sumitomo Mitsui Financial Group during the fourth quarter worth about $27,000. Sound Income Strategies LLC lifted its stake in Sumitomo Mitsui Financial Group by 76.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock worth $30,000 after acquiring an additional 610 shares during the last quarter. True Wealth Design LLC purchased a new position in Sumitomo Mitsui Financial Group in the third quarter worth approximately $27,000. Cornerstone Planning Group LLC grew its holdings in 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 worth $33,000 after acquiring an additional 1,543 shares in the last quarter. Finally, Park Square Financial Group LLC grew its holdings in Sumitomo Mitsui Financial Group by 58.0% during the 4th quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock worth $31,000 after acquiring an additional 598 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

About Sumitomo Mitsui Financial Group

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.