Sumitomo Mitsui Financial Grp, Inc. (NYSE:SMFG) Sees Large Decline in Short Interest

Sumitomo Mitsui Financial Grp, Inc. (NYSE:SMFG) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 1,071,200 shares, a decline of 48.7% from the May 15th total of 2,090,100 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 1,530,000 shares, the days-to-cover ratio is currently 0.7 days.

Shares of SMFG traded down $0.04 during trading hours on Friday, reaching $7.01. The company had a trading volume of 696,223 shares, compared to its average volume of 1,032,721. The firm has a 50 day moving average of $6.99. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.98. The stock has a market capitalization of $49.85 billion, a P/E ratio of 7.30, a price-to-earnings-growth ratio of 2.77 and a beta of 1.18. Sumitomo Mitsui Financial Grp has a 12-month low of $6.32 and a 12-month high of $8.44.

Sumitomo Mitsui Financial Grp (NYSE:SMFG) last issued its quarterly earnings results on Wednesday, May 15th. The bank reported $0.13 EPS for the quarter. The business had revenue of $12.21 billion during the quarter. Sumitomo Mitsui Financial Grp had a net margin of 12.67% and a return on equity of 6.26%. Equities research analysts predict that Sumitomo Mitsui Financial Grp will post 0.95 earnings per share for the current year.

Separately, Zacks Investment Research raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Wednesday, June 5th.

Hedge funds have recently made changes to their positions in the business. Sontag Advisory LLC purchased a new stake in shares of Sumitomo Mitsui Financial Grp during the fourth quarter valued at approximately $25,000. Cornerstone Advisors Inc. raised its stake in shares of Sumitomo Mitsui Financial Grp by 97.0% during the first quarter. Cornerstone Advisors Inc. now owns 3,903 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,922 shares during the period. Pinnacle Bank increased its stake in shares of Sumitomo Mitsui Financial Grp by 147.8% in the second quarter. Pinnacle Bank now owns 6,158 shares of the bank’s stock worth $43,000 after buying an additional 3,673 shares during the last quarter. Liberty Wealth Management LLC bought a new stake in shares of Sumitomo Mitsui Financial Grp in the fourth quarter worth $45,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Sumitomo Mitsui Financial Grp in the fourth quarter worth $63,000. 2.77% of the stock is currently owned by hedge funds and other institutional investors.

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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