Sumitomo Mitsui Financial Group (NYSE:SMFG) Reaches New 12-Month High - Here's Why

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) has achieved a new peak in its stock price, reaching a 52-week high during trading on Friday. The stock climbed to a maximum of $15.84 before settling at $15.88, with a trading volume of 99,950 shares, up from its previous close of $15.48.

Analyst Ratings Changes

It is noteworthy that StockNews.com has recently downgraded Sumitomo Mitsui Financial Group's shares from a "hold" rating to a "sell" rating, as noted in their research report on Thursday.

Get Our Latest Analysis on Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group Stock Up 2.4 %

The stock is currently valued with a market capitalization of $102.65 billion. It has a price-to-earnings ratio of 15.39 and a PEG ratio of 2.36, which indicates the stock's growth potential. Its beta value is recorded at 0.59, suggesting lower volatility compared to the broader market. Additionally, the company's moving averages stand at $14.99 for the past 50 days and $14.04 for the past 200 days. Financial metrics reveal a debt-to-equity ratio of 1.94, a current ratio of 1.06, and a quick ratio of 1.05.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Several hedge funds and institutional investors have recently adjusted their positions in Sumitomo Mitsui Financial Group. For instance, Park Square Financial Group LLC acquired a new stake valued at approximately $34,000 in the fourth quarter. Jefferies Financial Group Inc., having increased its holdings by 7.6% in the same period, now owns 18,311 shares worth around $265,000 after purchasing an additional 1,290 shares. Other notable changes include Capital A Wealth Management LLC, which bought a new stake worth around $25,000, and Forum Financial Management LP, which raised its stake by 15.0%, owning a total of 222,120 shares valued at $3,219,000 following an additional purchase of 28,997 shares. In total, institutional investors own about 3.85% of the stock.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, along with its subsidiaries, offers a range of financial services, including banking, leasing, securities, credit cards, and consumer finance. Their services span across various global regions, including Japan, the Americas, Europe, the Middle East, Asia, and Oceania, operating through several business segments.

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