Sumitomo Mitsui Financial Group (NYSE:SMFG) Sees Strong Trading Volume – Time to Buy?

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) shares saw unusually-high trading volume on Tuesday . Approximately 1,324,769 shares were traded during mid-day 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 Price Performance

The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.92. The company has a market cap of $84.38 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 2.72 and a beta of 0.60. The company has a fifty day simple moving average of $12.86 and a two-hundred day simple moving average of $12.67.

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

Insider Buying and Selling at Sumitomo Mitsui Financial Group

In other Sumitomo Mitsui Financial Group news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of the stock in a transaction dated Thursday, September 19th. The shares were acquired at an average price of $59.67 per share, for a total transaction of $551,773,323.27. Following the completion of the acquisition, the director now owns 9,247,081 shares of the company’s stock, valued at $551,773,323.27. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Addison Advisors LLC acquired a new position in shares of Sumitomo Mitsui Financial Group in the 2nd quarter valued at $25,000. Richardson Financial Services Inc. bought a new stake in shares of Sumitomo Mitsui Financial Group during the first quarter worth approximately $29,000. Rothschild Investment LLC bought a new stake in shares of Sumitomo Mitsui Financial Group during the second quarter worth approximately $45,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Sumitomo Mitsui Financial Group during the second quarter worth approximately $59,000. Finally, AXA S.A. boosted its holdings in shares of Sumitomo Mitsui Financial Group by 29.2% during the second quarter. AXA S.A. now owns 9,200 shares of the bank’s stock worth $123,000 after acquiring an additional 2,081 shares during the period. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Company Profile

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.