Sumitomo Mitsui Financial Group (NYSE:SMFG) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• SMFG shares rose above their 200-day moving average, reaching $26.69 and last trading at $26.68, compared with a 200-day average of $23.39.
• Analyst sentiment remains positive overall: Weiss Ratings upgraded the stock to “buy,” while Zacks Research downgraded it to “hold.” The consensus rating is “Moderate Buy.”
• The bank reported quarterly earnings of $0.49 per share on $8.71 billion in revenue, with a 10.65% return on equity and a 16.24% net margin; analysts expect full-year EPS of $1.81.

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.39 and traded as high as $26.69. Sumitomo Mitsui Financial Group shares last traded at $26.68, with a volume of 1,061,224 shares trading hands.

Analyst Upgrades and Downgrades

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

Sumitomo Mitsui Financial Group Price Performance

The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $169.02 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 1.03 and a beta of 0.42. The company's 50 day moving average is $25.96 and its 200-day moving average is $23.39.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its 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%. Equities research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.81 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Sumitomo Mitsui Financial Group

Institutional investors have recently bought and sold shares of the company. Modern Wealth Management LLC increased its position in shares of Sumitomo Mitsui Financial Group by 3.1% during the first quarter. Modern Wealth Management LLC now owns 16,042 shares of the bank's stock worth $332,000 after acquiring an additional 482 shares in the last quarter. Traveka Wealth LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 2.3% in the first quarter. Traveka Wealth LLC now owns 26,726 shares of the bank's stock valued at $528,000 after purchasing an additional 613 shares in the last quarter. Bridgewater Advisors Inc. raised its position in Sumitomo Mitsui Financial Group by 2.5% in the 1st quarter. Bridgewater Advisors Inc. now owns 25,274 shares of the bank's stock valued at $499,000 after buying an additional 618 shares during the last quarter. Anchyra Partners LLC lifted its stake in Sumitomo Mitsui Financial Group by 4.5% during the 1st quarter. Anchyra Partners LLC now owns 14,329 shares of the bank's stock valued at $283,000 after acquiring an additional 620 shares in the last quarter. Finally, Greenspring Advisors LLC boosted its holdings in Sumitomo Mitsui Financial Group by 3.8% during the 2nd quarter. Greenspring Advisors LLC now owns 17,783 shares of the bank's stock worth $419,000 after acquiring an additional 656 shares during the last quarter. Institutional investors own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Company Profile

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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