Sumitomo Mitsui Trust (OTCMKTS:SUTNY) Shares Gap Up – Here’s Why

Sumitomo Mitsui Trust Holdings, Inc. (OTCMKTS:SUTNY) gapped up before the market opened on Tuesday . The stock had previously closed at $5.38, but opened at $5.64. Sumitomo Mitsui Trust shares last traded at $5.50, with a volume of 7,906 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Sumitomo Mitsui Trust from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Sumitomo Mitsui Trust Price Performance

The stock has a market capitalization of $30.47 billion and a PE ratio of 12.64. The stock’s fifty day moving average is $7.36 and its 200-day moving average is $7.03.

Sumitomo Mitsui Trust (OTCMKTS:SUTNY) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.23 earnings per share for the quarter. Sumitomo Mitsui Trust had a net margin of 11.81% and a return on equity of 10.34%. The company had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $1.33 billion. On average, analysts forecast that Sumitomo Mitsui Trust Holdings, Inc. will post 0.46 EPS for the current year.

Sumitomo Mitsui Trust Company Profile

Sumitomo Mitsui Trust Holdings, Inc, known internationally under the ticker OTCMKTS:SUTNY, is Japan’s largest trust banking group, offering a broad array of fiduciary and financial services. Headquartered in Tokyo, the company operates through a network of domestic branches and overseas offices in Asia, Europe and North America to serve institutional investors, corporates and private clients.

The group’s core activities span trust banking, asset management, real estate services and wholesale banking.