Sumitomo Mitsui Financial Group (NYSE:SMFG) Sees Large Volume Increase – Should You Buy?

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) shares saw unusually-high trading volume on Tuesday . Approximately 1,324,769 shares traded hands during trading, an increase of 5% from the previous session’s volume of 1,267,672 shares.The stock last traded at $12.98 and had previously closed at $13.15.

Sumitomo Mitsui Financial Group Trading Up 1.0 %

The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $84.77 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 2.83 and a beta of 0.60. The company has a 50 day moving average price of $12.91 and a two-hundred day moving average price of $12.68.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its earnings results on Friday, August 2nd. The bank reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.06. The business had revenue of $16.18 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 8.13% and a net margin of 11.28%. On average, research analysts forecast that Sumitomo Mitsui Financial Group, Inc. will post 0.4 EPS for the current year.

Insider Activity at Sumitomo Mitsui Financial Group

In other news, Director Mitsui Financial Grou Sumitomo acquired 9,247,081 shares of Sumitomo Mitsui Financial Group stock in a transaction that occurred 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 in the company, valued at $551,773,323.27. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SMFG. Addison Advisors LLC acquired a new position in Sumitomo Mitsui Financial Group in the 2nd quarter valued at $25,000. Richardson Financial Services Inc. purchased a new stake in Sumitomo Mitsui Financial Group in the 1st quarter valued at $29,000. Rothschild Investment LLC purchased a new stake in Sumitomo Mitsui Financial Group in the 2nd quarter valued at $45,000. Ashton Thomas Private Wealth LLC purchased a new stake in Sumitomo Mitsui Financial Group in the 2nd quarter valued at $59,000. Finally, HighPoint Advisor Group LLC purchased a new stake in Sumitomo Mitsui Financial Group in the 4th quarter valued at $115,000. 3.85% of the stock is owned by institutional investors and hedge funds.

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.