Sumitomo Mitsui Financial Group Inc. (NYSE:SMFG) does about 1.70M shares in volume on a normal day but saw 1361480 shares change hands in Friday trading. The company now has a market cap of 58.13B USD . Its current market price is $8.61, remained unchanged the previous close of $8.61. The 52 week high reached by this stock is $9.58 whilst the lowest price level in 52 weeks is $5.39. The script in recent trading has seen the stock touch a high of $8.65 and a low of $8.60.
Sumitomo Mitsui Financial Group Inc. (SMFG) has a 20-day trading average at $8.95 and the current price is -10.13% off the 52-week high compared with 59.89% distance from its 52-week low. The 50-day simple moving average of the closing price is $8.76 and its 200-day simple moving average is $8.12. If we look at the stock’s price movements over the week, volatility stands at 0.98%, which increases to 1.15% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 41.04 to suggest the stock is neutral.
14 analysts observing the Sumitomo Mitsui Financial Group Inc. (SMFG) stock have set the 12-month price targets for the company’s shares at between $8.38 and $12.28. The consensus objective for the share price is $9.47, suggesting that the stock has a potential upside of 9.08% over the period. The median price target is 16.81% away from the current levels at $10.35.
FactSet Research has provided data showing that 14 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 1 advise that it is a overweight. 7 analysts have rated it as a buy and 6 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Strong Buy the stock.
The current price level is -3.93%, -1.55%, and 6.19% away from its SMA20, SMA50, and SMA200 respectively, with the SMFG price moving above the 50-day SMA on August 18. Sumitomo Mitsui Financial Group Inc. (SMFG) stock is down -3.26% over the week and -6.72% over the past month. Its price is 7.36% year-to-date and 38.65% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2023, with the company’s earnings per share (EPS) of $0.27 above consensus estimates by $0.03. The company’s next earnings report is expected on 11/15/2023, with forecasts estimating quarterly EPS at $0.25 and $0.88 for whole year. SMFG’s earnings per share are forecast to grow by 1.10% this year and 6.80% over next year.
Its 12-month price target is $10.35. To reach the target analysts have set, the stock logically needs to grow 9.08 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $8.38, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $12.28.
Outstanding shares total 6.68B with insiders holding 0.00% of the shares and institutional holders owning 1.66% of the company’s common stock. The company has a return on investment of 2.00% and return on equity of 6.30%. The price to earnings ratio (P/E ratio) amounts to 10.64 while the forward price to earnings ratio is 9.16. The beta has a value of 0.74. Price to book ratio is 0.63 and price to sales ratio is 1.86.
Invesco International Dividend Ac isn’t the only investment manager who changed stakes and is followed by Avantis International Equity ETF, which added 4375.0 shares to end up with 816,342 shares worth $7.61 million.
