Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) Short Interest Up 89.2% in October

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 2,800,000 shares, a growth of 89.2% from the September 30th total of 1,480,000 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 2,040,000 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily trading volume, of 2,040,000 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.0% of the company’s stock are short sold.

Institutional Trading of Sumitomo Mitsui Financial Group

Several large investors have recently modified their holdings of the company. True Wealth Design LLC purchased a new position in Sumitomo Mitsui Financial Group during the third quarter valued at $27,000. Northwestern Mutual Wealth Management Co. lifted its position in Sumitomo Mitsui Financial Group by 163.2% during 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 in the last quarter. NewSquare Capital LLC lifted its position in Sumitomo Mitsui Financial Group by 204.7% during the second quarter. NewSquare Capital LLC now owns 2,029 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,363 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in Sumitomo Mitsui Financial Group during the second quarter valued at $34,000. Finally, Salomon & Ludwin LLC lifted its position in Sumitomo Mitsui Financial Group by 2,443.8% during the third quarter. Salomon & Ludwin LLC now owns 2,035 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,955 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Stock Performance

Shares of SMFG opened at $16.31 on Monday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03. Sumitomo Mitsui Financial Group has a one year low of $11.83 and a one year high of $17.46. The firm has a market capitalization of $104.83 billion, a P/E ratio of 17.16, a PEG ratio of 0.78 and a beta of 0.37. The business has a fifty day moving average of $16.39 and a 200 day moving average of $15.51.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its quarterly earnings data on Thursday, July 31st. The bank reported $0.40 EPS for the quarter, topping the consensus estimate of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%.The company had revenue of $16.41 billion during the quarter, compared to analyst estimates of $1,094.67 billion. As a group, sell-side analysts anticipate that Sumitomo Mitsui Financial Group will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SMFG. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Sumitomo Mitsui Financial Group Company Profile

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.