Sumitomo Mitsui Financial Group (NYSE:SMFG) Reaches New 52-Week High - Still a Buy?

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.56 and last traded at $15.58, with a volume of 109627 shares. The stock had previously closed at $15.13.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, November 23rd.

Sumitomo Mitsui Financial Group Stock Performance

The company has a market capitalization of $100.24 billion, a PE ratio of 14.88, a PEG ratio of 2.38 and a beta of 0.63. The firm has a 50-day moving average of $14.72 and a two-hundred day moving average of $13.80. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.94.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Large investors have recently made changes to their positions in the company. Bessemer Group Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 138.1% in the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock worth $28,000 after acquiring an additional 1,119 shares during the period. Versant Capital Management Inc purchased a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter valued at about $30,000. TD Waterhouse Canada Inc. increased its stake in shares of Sumitomo Mitsui Financial Group by 2,178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank's stock valued at $45,000 after purchasing an additional 2,963 shares in the last quarter. Richardson Financial Services Inc. raised its holdings in Sumitomo Mitsui Financial Group by 36.8% in the 4th quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank's stock worth $51,000 after purchasing an additional 940 shares during the period. Finally, Bruce G. Allen Investments LLC boosted its position in Sumitomo Mitsui Financial Group by 29.5% during the fourth quarter. Bruce G. Allen Investments LLC now owns 5,445 shares of the bank's stock worth $79,000 after purchasing an additional 1,239 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.