Sumitomo Mitsui Financial Grp, Inc. (SMFG) Sees Significant Decline in Short Interest

Sumitomo Mitsui Financial Grp, Inc. (NYSE:SMFG) was the recipient of a large drop in short interest in July. As of July 13th, there was short interest totalling 1,601,905 shares, a drop of 43.4% from the June 29th total of 2,829,675 shares. Based on an average trading volume of 877,907 shares, the days-to-cover ratio is presently 1.8 days.

SMFG has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Sumitomo Mitsui Financial Grp from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Saturday, April 7th. ValuEngine lowered shares of Sumitomo Mitsui Financial Grp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd.

Shares of NYSE:SMFG opened at $8.18 on Friday. Sumitomo Mitsui Financial Grp has a 12 month low of $7.33 and a 12 month high of $9.67. The company has a current ratio of 0.99, a quick ratio of 1.00 and a debt-to-equity ratio of 1.04. The firm has a market cap of $56.35 billion, a P/E ratio of 8.07 and a beta of 1.43.

Sumitomo Mitsui Financial Grp (NYSE:SMFG) last announced its quarterly earnings results on Monday, May 14th. The bank reported $0.17 EPS for the quarter. Sumitomo Mitsui Financial Grp had a net margin of 12.31% and a return on equity of 6.47%. The firm had revenue of $13.85 billion for the quarter. equities analysts expect that Sumitomo Mitsui Financial Grp will post 0.87 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Fisher Asset Management LLC raised its stake in Sumitomo Mitsui Financial Grp by 4.4% during the 2nd quarter. Fisher Asset Management LLC now owns 57,789,059 shares of the bank’s stock worth $449,021,000 after acquiring an additional 2,413,023 shares in the last quarter. Cambiar Investors LLC raised its stake in Sumitomo Mitsui Financial Grp by 0.9% during the 2nd quarter. Cambiar Investors LLC now owns 26,643,752 shares of the bank’s stock worth $207,022,000 after acquiring an additional 244,101 shares in the last quarter. Wells Fargo & Company MN grew its position in Sumitomo Mitsui Financial Grp by 68.6% during the 2nd quarter. Wells Fargo & Company MN now owns 8,498,998 shares of the bank’s stock worth $66,037,000 after purchasing an additional 3,457,393 shares during the last quarter. Aperio Group LLC grew its position in Sumitomo Mitsui Financial Grp by 9.5% during the 1st quarter. Aperio Group LLC now owns 4,219,339 shares of the bank’s stock worth $35,864,000 after purchasing an additional 366,753 shares during the last quarter. Finally, Todd Asset Management LLC grew its position in Sumitomo Mitsui Financial Grp by 31.6% during the 1st quarter. Todd Asset Management LLC now owns 1,886,809 shares of the bank’s stock worth $16,038,000 after purchasing an additional 453,281 shares during the last quarter. Hedge funds and other institutional investors own 2.58% 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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