Sumitomo Mitsui Financial Group (NYSE:SMFG) Sees Unusually-High Trading Volume – Still a Buy?

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) shares saw strong trading volume on Friday . 1,622,955 shares were traded during trading, an increase of 35% from the previous session’s volume of 1,205,037 shares.The stock last traded at $14.95 and had previously closed at $14.91.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, November 23rd.

Sumitomo Mitsui Financial Group Price Performance

The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.91. The stock has a 50-day simple moving average of $13.71 and a 200 day simple moving average of $13.32. The stock has a market capitalization of $97.39 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 3.41 and a beta of 0.63.

Insider Transactions at Sumitomo Mitsui Financial Group

In related news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were acquired at an average cost of $59.67 per share, with a total value of $551,773,323.27. Following the completion of the purchase, the director now owns 9,247,081 shares of the company’s stock, valued at $551,773,323.27. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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. Addison Advisors LLC acquired a new position in Sumitomo Mitsui Financial Group in the 2nd quarter worth about $25,000. Rothschild Investment LLC acquired a new position in Sumitomo Mitsui Financial Group in the second quarter worth approximately $45,000. Ashton Thomas Private Wealth LLC bought a new position in Sumitomo Mitsui Financial Group during the second quarter valued at approximately $59,000. Assetmark Inc. raised its position in Sumitomo Mitsui Financial Group by 23.6% during the third quarter. Assetmark Inc. now owns 8,738 shares of the bank’s stock valued at $110,000 after acquiring an additional 1,669 shares in the last quarter. Finally, AXA S.A. lifted its stake in Sumitomo Mitsui Financial Group by 29.2% in the second quarter. AXA S.A. now owns 9,200 shares of the bank’s stock valued at $123,000 after acquiring an additional 2,081 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.