Sumitomo Mitsui Financial Group (NYSE:SMFG) Sees Unusually-High Trading Volume

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG – Get Rating) shares saw an uptick in trading volume on Tuesday . 526,020 shares changed hands during mid-day trading, a decline of 81% from the previous session’s volume of 2,789,380 shares.The stock last traded at $5.95 and had previously closed at $5.92.

A number of research firms have commented on SMFG. The Goldman Sachs Group began coverage on shares of Sumitomo Mitsui Financial Group in a research report on Wednesday, April 27th. They issued a “buy” rating on the stock. Bank of America cut shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “neutral” rating in a research report on Monday, April 11th. Zacks Investment Research cut shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 14th. Finally, StockNews.com cut shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th.

The company has a market capitalization of $40.34 billion, a PE ratio of 6.23, a price-to-earnings-growth ratio of 0.48 and a beta of 0.74. The stock’s 50 day simple moving average is $6.36 and its 200-day simple moving average is $6.78.

A number of large investors have recently modified their holdings of SMFG. Morgan Stanley increased its stake in Sumitomo Mitsui Financial Group by 10.2% during the second quarter. Morgan Stanley now owns 8,531,266 shares of the bank’s stock worth $58,780,000 after purchasing an additional 789,643 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Sumitomo Mitsui Financial Group by 15.9% during the third quarter. Commonwealth Equity Services LLC now owns 37,582 shares of the bank’s stock worth $263,000 after buying an additional 5,145 shares during the period. New York State Common Retirement Fund increased its stake in shares of Sumitomo Mitsui Financial Group by 55.2% during the third quarter. New York State Common Retirement Fund now owns 32,536 shares of the bank’s stock worth $228,000 after buying an additional 11,578 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Sumitomo Mitsui Financial Group by 9.1% during the third quarter. PNC Financial Services Group Inc. now owns 120,917 shares of the bank’s stock worth $847,000 after buying an additional 10,085 shares during the period. Finally, Truist Financial Corp increased its stake in shares of Sumitomo Mitsui Financial Group by 28.1% during the third quarter. Truist Financial Corp now owns 395,455 shares of the bank’s stock worth $2,771,000 after buying an additional 86,750 shares during the period. Institutional investors own 3.02% of the company’s stock.

Sumitomo Mitsui Financial Group Company Profile (NYSE:SMFG)

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.

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