Sumitomo Mitsui Financial Group (NYSE:SMFG) Sees Large Volume Increase – Here’s What Happened

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) saw unusually-high trading volume on Friday . Approximately 1,622,955 shares changed hands 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.

Wall Street Analyst Weigh In

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 stock has a market capitalization of $97.33 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 3.41 and a beta of 0.63. The company has a 50-day moving average of $13.67 and a 200-day moving average of $13.30. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.05 and a current ratio of 1.06.

Insider Buying and Selling

In other Sumitomo Mitsui Financial Group news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average cost of $59.67 per share, with a total value of $551,773,323.27. Following the completion of the acquisition, the director now directly owns 9,247,081 shares of the company’s stock, valued at $551,773,323.27. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.05% of the stock is owned by company insiders.

Institutional Trading of Sumitomo Mitsui Financial Group

Hedge funds have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Sumitomo Mitsui Financial Group by 266.5% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,800 shares of the bank’s stock valued at $8,258,000 after acquiring an additional 447,800 shares during the last quarter. Benson Investment Management Company Inc. purchased a new position in shares of Sumitomo Mitsui Financial Group in the third quarter worth $5,182,000. FMR LLC grew its holdings in shares of Sumitomo Mitsui Financial Group by 5.0% in the third quarter. FMR LLC now owns 7,193,840 shares of the bank’s stock worth $90,858,000 after acquiring an additional 342,604 shares during the period. Leuthold Group LLC purchased a new stake in Sumitomo Mitsui Financial Group in the third quarter worth about $3,907,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 844.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 326,942 shares of the bank’s stock valued at $4,129,000 after acquiring an additional 292,334 shares in the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

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.