Sumitomo Mitsui Financial Group (NYSE:SMFG) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• SMFG shares moved above their 200-day moving average, reaching $26.59 and closing near $26.35 versus the $23.15 long-term average. The stock has a $166.9 billion market capitalization and a price-to-earnings ratio of 18.30.
• Analyst sentiment remains generally positive but mixed: Weiss Ratings upgraded the stock to “buy,” while Zacks Research downgraded it to “hold.” MarketBeat reports a consensus rating of “Moderate Buy.”
• In its latest reported quarter, SMFG earned $0.49 per share on $8.71 billion in revenue, with a 10.65% return on equity and 16.24% net margin. The CFO recently sold 4,000 shares, while institutional investors own 3.85% of the company.

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.15 and traded as high as $26.59. Sumitomo Mitsui Financial Group shares last traded at $26.3450, with a volume of 1,671,561 shares changing hands.

Analyst Ratings Changes

SMFG has been the topic of several recent analyst reports. Weiss Ratings raised Sumitomo Mitsui Financial Group from a "hold (c+)" rating to a "buy (b+)" rating in a research report on Wednesday, September 2nd. Zacks Research downgraded Sumitomo Mitsui Financial Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Sumitomo Mitsui Financial Group has a consensus rating of "Moderate Buy".

Sumitomo Mitsui Financial Group Stock Down 1.7%

The company has a debt-to-equity ratio of 1.65, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50 day simple moving average of $25.73 and a 200 day simple moving average of $23.15. The stock has a market cap of $166.90 billion, a PE ratio of 18.30, a P/E/G ratio of 1.06 and a beta of 0.42.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The bank reported $0.49 earnings per share for the quarter. The company had revenue of $8.71 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.65% and a net margin of 16.24%. On average, equities research analysts forecast that Sumitomo Mitsui Financial Group Inc will post 1.81 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Kazuyuki Anchi sold 4,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $42.47, for a total transaction of $169,880.00. Following the transaction, the chief financial officer owned 48,857 shares in the company, valued at $2,074,956.79. This represents a 7.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is owned by corporate insiders.

Institutional Trading of Sumitomo Mitsui Financial Group

Large investors have recently made changes to their positions in the stock. Ascentis Independent Advisors bought a new stake in Sumitomo Mitsui Financial Group during the first quarter worth approximately $27,000. Continuum Advisory LLC bought a new position in Sumitomo Mitsui Financial Group in the 2nd quarter worth $28,000. Pin Oak Investment Advisors Inc. acquired a new position in Sumitomo Mitsui Financial Group during the 3rd quarter worth $29,000. Bayban bought a new stake in Sumitomo Mitsui Financial Group during the fourth quarter valued at about $30,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Sumitomo Mitsui Financial Group by 163.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank's stock valued at $30,000 after purchasing an additional 1,227 shares during the last quarter. Institutional investors own 3.85% of the company's stock.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Japanese financial services holding company and the parent organization of Sumitomo Mitsui Banking Corporation (SMBC). The group provides a broad range of financial products and services to individuals, businesses, institutional clients and public-sector organizations.

Its principal activities include commercial and investment banking, retail banking, corporate lending, deposits, payments, foreign exchange and trade finance. Through affiliated companies, SMFG also offers securities brokerage and underwriting, asset management, leasing, credit cards, consumer finance and other specialized financial services.

SMFG traces its heritage to the historical Sumitomo and Mitsui banking businesses.

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