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

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s stock price hit 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 trading 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 research note on Saturday, November 23rd.

Sumitomo Mitsui Financial Group Stock Up 3.1 %

The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.94. The firm has a market cap of $102.01 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 2.27 and a beta of 0.63. The stock’s 50 day moving average is $14.67 and its 200 day moving average is $13.73.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its position in Sumitomo Mitsui Financial Group by 16.5% in the fourth quarter. FMR LLC now owns 8,383,293 shares of the bank’s stock worth $121,474,000 after buying an additional 1,189,453 shares during the last quarter. Clark Capital Management Group Inc. grew its position in Sumitomo Mitsui Financial Group by 26.9% in the fourth quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank’s stock worth $92,509,000 after buying an additional 1,355,287 shares during the last quarter. Northern Trust Corp grew its position in Sumitomo Mitsui Financial Group by 79.3% in the fourth quarter. Northern Trust Corp now owns 5,029,497 shares of the bank’s stock worth $72,877,000 after buying an additional 2,224,913 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Sumitomo Mitsui Financial Group by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,899,574 shares of the bank’s stock valued at $42,015,000 after purchasing an additional 33,783 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 4.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,803,684 shares of the bank’s stock valued at $26,135,000 after purchasing an additional 70,946 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, 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.