As of Wednesday close, Sumitomo Mitsui Financial Group Inc.’s (NYSE:SMFG) stock was up $0.04, moving up 0.44 percent to $9.10. The average number of shares traded per day over the past five days has been 1,096,900 shares. 4 times new highs have been achieved over the past 5 days, with a $0.20 gain in that time frame. In the last twenty days, the average volume was 1,123,190, while in the previous 50 days, it was 1,474,896.
Since last month, SMFG stock rose 0.33%. Shares of the company fell to $8.55 on 08/16/23, the lowest level in the past month. A 52-week high of $9.58 was reached on 07/28/23 after having rallying from a 52-week low of $5.39. Since the beginning of this year, SMFG’s stock price has risen by 13.47% or $1.08, and marked a new high 8 times. However, the stock has declined by -5.01% since its 52-week high.
Valuation Metrics
Right now, Sumitomo Mitsui Financial Group Inc. (SMFG) has a P/E ratio of about 11.25. The stock’s beta is 0.73. Besides these, the trailing price-to-sales (P/S) ratio of 1.98, the price-to-book (PB) ratio of 0.67.
The latest dividend of $0.1655 per share was paid out, which is 43.91% more than last year’s $0.1150. On Wednesday January 22 2020, a $0.0505 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.91, and the total debt-to-equity ratio was 1.91. In the year ended June 29, operating margins totaled 33.80%. Based on annual data, SMFG earned $12.99 billion in gross profit and brought in $27.35 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 2.00%. Return on equity (ROE) for the past 12 months was 6.30%.
While analysts expected Sumitomo Mitsui Financial Group Inc. to report $0.24 quarterly earnings, the actual figure was $0.27 per share, beating the consensus estimate by 12.50%.
Technical Picture
This quick technical analysis looks at Sumitomo Mitsui Financial Group Inc.’s (SMFG) price momentum. With a historical volatility rate of 10.32%, the RSI 9-day stood at 66.15% on 30 August.
With respect to its five-day moving average, the current Sumitomo Mitsui Financial Group Inc. price is up by +2.25% percent or $0.20. At present, SMFG shares trade +1.68% above its 20-day simple moving average and +12.76% percent above its 100-day simple moving average. However, the stock is currently trading approximately +10.98% above its SMA50 and +47.97% above its SMA200.
Stochastic coefficient K was 93.02% and Stochastic coefficient D was 85.26%, while ATR was 0.13. Given the Stochastic reading of 90.16% for the 14-day period, the RSI (14) reading has been calculated as 59.58%. As of today, the MACD Oscillator reading stands at 0.19, while the 14-day reading stands at 0.25.
Analyst Ratings
Sumitomo Mitsui Financial Group Inc. downgraded its rating on Sumitomo Mitsui Financial Group Inc. (NYSE: SMFG) to a Neutral in a note to investors on July 20, 2023. The analysts firm previously had a Buy rating on the stock.Sumitomo Mitsui Financial Group Inc. (SMFG) has been rated Overweight by analysts. According to 0 brokerage firms, SMFG is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 3 analysts rate Sumitomo Mitsui Financial Group Inc. stock as buy, with 8 recommending it as overweight.
With a median target price of $10.42, the current consensus forecast for the stock is $8.81 – $12.28. Based on these forecasts, analysts predict Sumitomo Mitsui Financial Group Inc. (SMFG) will achieve an average price target of $10.38.
