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Are Investors Keen On Selling Holdings In Sumitomo Mitsui Financial Group Inc. (NYSE: SMFG)?

Sumitomo Mitsui Financial Group Inc. (NYSE:SMFG) traded at $8.69 at close of the session on Tuesday, 01/24/23, made an upward move of 1.76% on its previous day’s price.

Looking at the stock we see that its previous close was $8.54 and the beta (5Y monthly) reads 0.78 with the day’s price range being $8.56 – $8.72. The company has a trailing 12-month PE ratio of 9.86. In terms of its 52-week price range, SMFG has a high of $9.04 and a low of $5.39. The company’s stock has gained about 10.84% over that past 30 days.

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Sumitomo Mitsui Financial Group Inc. has a market cap of $58.43 billion. With its Forward Dividend at 1.02 and a yield of 11.70%, the company’s investors could be anxious for the SMFG stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.17, with the EPS growth for the year raised at $0.71 for 2022 and $0.75 for next year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the SMFG stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.

Based on estimates by 13 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the Sumitomo Mitsui Financial Group Inc. (SMFG) stock as a Hold, while 11 rate it as a Buy. 2 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the SMFG stock currently stands at 1.73, and the current price level is 5.19% off its SMA20 and 18.54% from its 50-day simple moving average. The RSI (14) is pointing at 67.79 while the volatility over the past week is 1.47% and jumps to 1.50% over the past one month. The beta value is 0.72, while the average true range (ATR) is currently pointing at 0.19. The average price target for the stock over the next 12 months is $9.18, with the estimates having a low of $7.47 and a high of $11.71. These price ends are 14.04% and -34.75% off the current price level respectively, although investors could be excited at the prospect of a -5.75% if the SMFG share price touches on the median price of $9.19.

Let’s briefly compare Sumitomo Mitsui Financial Group Inc. (SMFG) stock to its peers. We find that current price change of 1.76% and 21.71% over the past 12 months for SMFG competes that of Mitsubishi UFJ Financial Group Inc. (MUFG), which has seen its stock price rise 1.79% in the last trading session and was 24.87% over the last one year. Another of its peers Mizuho Financial Group Inc. (MFG) has gained 2.27% previous session, and was 15.75% up over the past year, while Barclays PLC (BCS) was also down -1.54% in the last session, while its price remained in the red at -17.68% over the same period.. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at -0.07% and 0.31%, respectively, at close of the trading.

Coming back to Sumitomo Mitsui Financial Group Inc. (NYSE:SMFG), we note that the average 3-month trading volume was 3.41 million, while that of the preceding 10-day period stands at 3.78 million. Current shares outstanding are 6.86 billion.

The institutions hold 1.70%. The data shows that short shares as of Oct 13, 2022, stood at 6.83 million at a short ratio of 1.82. This represents a 0.10% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 3.34 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 8.35% up in year-to-date price movement.

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