Sumitomo Mitsui Financial Grp, Inc. (NYSE:SMFG) Sees Significant Growth in Short Interest

Sumitomo Mitsui Financial Grp, Inc. (NYSE:SMFG) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 2,530,000 shares, a growth of 130.0% from the August 30th total of 1,100,000 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 2,210,000 shares, the days-to-cover ratio is presently 1.1 days.

Several equities research analysts have commented on SMFG shares. ValuEngine upgraded Sumitomo Mitsui Financial Grp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded Sumitomo Mitsui Financial Grp from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research note on Tuesday, September 17th.

NYSE:SMFG traded up $0.08 on Friday, hitting $6.86. 2,388,400 shares of the stock were exchanged, compared to its average volume of 1,704,775. The stock has a market cap of $46.43 billion, a PE ratio of 7.15, a PEG ratio of 2.61 and a beta of 1.23. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.98. The stock has a fifty day moving average of $6.74 and a 200-day moving average of $6.95. Sumitomo Mitsui Financial Grp has a fifty-two week low of $6.32 and a fifty-two week high of $8.08.

Sumitomo Mitsui Financial Grp (NYSE:SMFG) last announced its quarterly earnings results on Tuesday, July 30th. The bank reported $0.28 EPS for the quarter. The company had revenue of $12.14 billion during the quarter. Sumitomo Mitsui Financial Grp had a return on equity of 6.23% and a net margin of 12.67%. As a group, analysts predict that Sumitomo Mitsui Financial Grp will post 0.96 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in shares of Sumitomo Mitsui Financial Grp by 7.0% in the first quarter. JPMorgan Chase & Co. now owns 822,622 shares of the bank’s stock worth $5,783,000 after buying an additional 54,079 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of Sumitomo Mitsui Financial Grp by 535.9% in the first quarter. Rockefeller Capital Management L.P. now owns 23,440 shares of the bank’s stock worth $165,000 after buying an additional 19,754 shares during the period. Clearbridge Investments LLC boosted its position in shares of Sumitomo Mitsui Financial Grp by 2.8% in the first quarter. Clearbridge Investments LLC now owns 1,315,229 shares of the bank’s stock worth $9,246,000 after buying an additional 35,327 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of Sumitomo Mitsui Financial Grp by 219.4% in the first quarter. Rehmann Capital Advisory Group now owns 46,046 shares of the bank’s stock worth $324,000 after buying an additional 31,630 shares during the period. Finally, GYL Financial Synergies LLC purchased a new stake in shares of Sumitomo Mitsui Financial Grp in the first quarter worth about $245,000. Institutional investors own 2.77% of the company’s stock.

Sumitomo Mitsui Financial Grp Company Profile

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services primarily in Japan. It operates through four segments: Wholesale Business, Retail Business, International Business, and Global Markets Business.

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