Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG – Get Rating) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,410,000 shares, a drop of 67.5% from the August 15th total of 4,340,000 shares. Based on an average daily trading volume, of 2,760,000 shares, the short-interest ratio is currently 0.5 days. Currently, 0.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SMFG shares. StockNews.com downgraded shares of Sumitomo Mitsui Financial Group from a "buy" rating to a "hold" rating in a research note on Sunday, May 29th. Bank of America raised shares of Sumitomo Mitsui Financial Group from a "neutral" rating to a "buy" rating in a research note on Thursday, June 23rd.

Sumitomo Mitsui Financial Group Stock Up 1.3 %

Shares of NYSE:SMFG traded up $0.08 during trading on Wednesday, hitting $6.02. 3,559,520 shares of the company were exchanged, compared to its average volume of 2,783,626. The stock has a market capitalization of $41.38 billion, a P/E ratio of 6.47, a PEG ratio of 0.55 and a beta of 0.74. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.03 and a quick ratio of 1.03. Sumitomo Mitsui Financial Group has a 12-month low of $5.70 and a 12-month high of $7.74. The firm's 50 day moving average price is $6.07 and its 200-day moving average price is $6.18.

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 the stock. Venture Visionary Partners LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the 2nd quarter worth about $27,000. Huntington National Bank lifted its holdings in shares of Sumitomo Mitsui Financial Group by 535,400.0% during the 1st quarter. Huntington National Bank now owns 5,355 shares of the bank's stock worth $34,000 after acquiring an additional 5,354 shares during the period. Farmers & Merchants Investments Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 1,719.2% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 5,676 shares of the bank's stock worth $36,000 after acquiring an additional 5,364 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 71.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 7,638 shares of the bank's stock worth $45,000 after acquiring an additional 3,191 shares during the period. Finally, Dakota Wealth Management purchased a new position in shares of Sumitomo Mitsui Financial Group during the 2nd quarter worth about $60,000. 1.92% of the stock is owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Company Profile

(Get Rating)

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through four segments: Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit.

Featured Articles

• Get a free copy of the StockNews.com research report on Sumitomo Mitsui Financial Group (SMFG)
• Four Cheap Stocks With Interesting Insider Activity
• Can Health Drink Maker Celsius Outrun Its Monster Rival?
• Is Lyft Going To Make It As Acquisition Rumors Swirl?
• It's Time To Embrace Another 25% Decline In The S&P 500
• These 3 Reports Will Tell Us Much About the Current Economy

Receive News & Ratings for Sumitomo Mitsui Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sumitomo Mitsui Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.