Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) Short Interest Down 38.0% in December

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 2,055,252 shares, a drop of 38.0% from the November 30th total of 3,314,539 shares. Based on an average daily trading volume, of 2,181,438 shares, the short-interest ratio is presently 0.9 days. Currently, 0.0% of the company’s shares are sold short. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 2,181,438 shares, the short-interest ratio is presently 0.9 days.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Institutional investors have recently bought and sold shares of the business. True Wealth Design LLC acquired a new position in shares of Sumitomo Mitsui Financial Group during the third quarter valued at about $27,000. Pin Oak Investment Advisors Inc. acquired a new position in Sumitomo Mitsui Financial Group during the third quarter worth about $29,000. Northwestern Mutual Wealth Management Co. increased its position in Sumitomo Mitsui Financial Group by 163.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after purchasing an additional 1,227 shares during the last quarter. NewSquare Capital LLC lifted its position in Sumitomo Mitsui Financial Group by 204.7% in the second quarter. NewSquare Capital LLC now owns 2,029 shares of the bank’s stock valued at $31,000 after buying an additional 1,363 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Sumitomo Mitsui Financial Group by 225.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,919 shares of the bank’s stock valued at $32,000 after acquiring an additional 1,329 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SMFG has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Tuesday, December 16th. Zacks Research cut shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Stock Down 0.9%

NYSE SMFG traded down $0.18 during trading hours on Friday, reaching $19.53. 994,726 shares of the company’s stock traded hands, compared to its average volume of 1,944,305. Sumitomo Mitsui Financial Group has a 52-week low of $11.83 and a 52-week high of $19.83. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.04 and a quick ratio of 1.03. The firm has a 50-day simple moving average of $17.63 and a 200 day simple moving average of $16.48. The firm has a market cap of $125.18 billion, a PE ratio of 16.55, a PEG ratio of 0.95 and a beta of 0.37.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings data on Friday, November 14th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.19. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $7.41 billion. Sumitomo Mitsui Financial Group had a net margin of 13.80% and a return on equity of 9.14%. Sell-side analysts anticipate that Sumitomo Mitsui Financial Group will post 0.39 EPS for the current fiscal year.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.