Why You Need Sumitomo Mitsui Financial Group Inc. (SMFG) On Your Watchlist


Sumitomo Mitsui Financial Group Inc. (NYSE:SMFG) saw an upside of 1.76% to close Tuesday at $8.69 after adding $0.15 on the day. The 5-day average trading volume is 3,696,060 shares of the company’s common stock. It has gained $8.72 in the past week and touched a new high 2 times within the past 5 days. An average of 4,028,730 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,563,462.

SMFG’s 1-month performance is 10.84% or $0.64 on its low of $7.91 reached on 12/29/22. The company’s shares have touched a 52-week low of $5.39 and high of $9.04, with the stock’s rally to the 52-week high happening on 01/13/23. YTD, SMFG has achieved 8.35% or $0.67 and has reached a new high 4 times. However, the current price is down -3.87% from the 52-week high price.

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Valuation Metrics

SMFG stock has a beta of 0.72. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.94 while the price-to-book (PB) in the most recent quarter is 0.60.

As well, the company’s long term debt to equity for the quarter ending September 29 was 1.78, while the total debt to equity was 1.78. The firm’s gross profit as reported stood at $12.85 billion against revenue of $15.55 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Analysts expected SMFG to announce $0.21 per share in earnings in its latest quarter, but it posted $0.33, representing a 57.10% surprise.

Let’s look briefly at Sumitomo Mitsui Financial Group Inc. (SMFG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 65.81% to suggest the stock is trending Neutral, with historical volatility in this time period at 46.77%.

The stock’s 5-day moving average is $8.58, reflecting a +0.23% or $0.02 change from its current price. SMFG is currently trading +9.86% above its 20-day SMA, +42.46% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +48.55% and SMA200 by+41.07%.

Stochastic %K and %D was 60.66% and 57.73% and the average true range (ATR) pointed at 0.20. The RSI (14) points at 67.79%, while the 14-day stochastic is at 68.47% with the period’s ATR at 0.19. The stock’s 9-day MACD Oscillator is pointing at 0.01 and 0.18 on the 14-day charts.

Analyst Ratings

What is SMFG’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $7.47 and a high of $11.71, with their median price target at $9.19. Looking at these predictions, the average price target given by analysts is for Sumitomo Mitsui Financial Group Inc. (SMFG) stock is $9.18.


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