Growing Through Challenges? – Sumitomo Mitsui Financial Group Inc. (SMFG)

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    Renaissance Technologies LLC recently announced the acquisition of new stake in Sumitomo Mitsui Financial Group Inc. (NYSE:SMFG). The institutional investor has increased its shareholding in the Financial company by 9.28% to 9.12 million shares with purchase of 0.77 million shares. This fresh investment now brings its stake to 0.13% valued currently at $51.27 million. In addition, Morgan Stanley Smith Barney LLC (… raised its holdings by 0.48 million to 8.89 million shares. And Parametric Portfolio Associates L… has lifted its position by 7.28% or 0.57 million shares – to 8.4 million shares.

    With over 0.85 million Sumitomo Mitsui Financial Group Inc. (SMFG) shares trading Friday and a closing price of $5.62 on the day, the dollar volume was approximately $4.8 million. The shares have shown a negative weekly performance of -1.75% and its price on 07/24/20 lost nearly -0.35%. Currently, there are 6.85B common shares owned by the public and among those 6.84B shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for SMFG have a consensus price objective of $8.18. The analysts have set the share’s price value over the next 12 months at a high of $11.95 and a low of $5.67 should the stock experience a downside. The average price target is 42.94% above its last price level and an upside to the estimated low will see the stock gain 0.88% over that period. But an upside of 52.97% will see the stock hit the forecast high price target while mean target price for the stock is $7.72.

    The top 3 mutual fund holders in Sumitomo Mitsui Financial Group Inc. are Trust for Professional Managers -, Steward International Enhanced In, and DFA International Sustainability. Trust for Professional Managers – owns 0.2 million shares of the company’s stock, all valued at over $1.13 million. DFA International Sustainability bought 0.14 million shares to bring its total holdings to over 0.15 million shares at a value of $0.82 million. DFA International Sustainability now owns shares totaling to 0.00% of the shares outstanding.

    Shares of Sumitomo Mitsui Financial Group Inc. (NYSE: SMFG) opened at $5.63, down -$0.01 from a prior closing price of $5.64. However, the script later closed the day at $5.62, down -0.35%. The company’s stock has a 5-day price change of -1.75% and 11.07% over the past three months. SMFG shares are trading -24.16% year to date (YTD), with the 12-month market performance down to -19.94% lower. It has a 12-month low price of $4.49 and touched a high of $7.56 over the same period. Currently, 0.85 million shares have been traded, compared to an average intraday trading volume of 1.63 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.07%, -1.51%, and -10.60% respectively.

    Institutional ownership of Sumitomo Mitsui Financial Group Inc. (NYSE: SMFG) shares accounts for 2.00% of the company’s 6.85B shares outstanding. Mutual fund holders own 0.02%, while other institutional holders and individual stakeholders account for 1.78% and — respectively.

    It has a market capitalization of $39.45B and a beta (3y monthly) value of 1.23. The stock’s trailing 12-month PE ratio is 5.90, while the earnings-per-share (ttm) stands at $0.95. The company has a PEG of 2.18 and the debt-to-equity ratio at 2.28. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.94% over the week and 1.25% over the month.

    Analysts forecast that Sumitomo Mitsui Financial Group Inc. (SMFG) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for Next Year. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to decrease by -1.50%, and -18.56% over the next financial year. EPS should grow at an annualized rate of 2.70% over the next five years, compared to -1.50% over the past 5-year period.

    Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 1 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the SMFG, a number of firms have released research notes about the stock. Macquarie stated their Neutral rating for the stock in a research note on May 25, 2016, with the firm’s price target at . Citigroup coverage for the Sumitomo Mitsui Financial Group Inc. (SMFG) stock in a research note released on February 04, 2016 offered a Sell rating with a price target of . BofA/Merrill was of a view on June 10, 2015 that the stock is Neutral, while Credit Agricole gave the stock Sell rating on May 13, 2015, issuing a price target of .

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