Sumitomo Mitsui Financial Group (NYSE:SMFG) Sees Large Volume Increase - What's Next?

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 1,021,549 shares traded hands during trading, a decline of 16% from the previous session's volume of 1,214,279 shares.The stock last traded at $14.40 and had previously closed at $14.43.

Wall Street Analyst Weigh In

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

Sumitomo Mitsui Financial Group Price Performance

The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.05 and a current ratio of 1.06. The company has a market capitalization of $95.17 billion, a PE ratio of 12.54, a P/E/G ratio of 3.37 and a beta of 0.63. The company's 50-day simple moving average is $14.02 and its 200-day simple moving average is $13.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in shares of Sumitomo Mitsui Financial Group by 8.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 292,976 shares of the bank's stock worth $3,929,000 after acquiring an additional 22,161 shares during the period. Allspring Global Investments Holdings LLC increased its position in Sumitomo Mitsui Financial Group by 84.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 34,608 shares of the bank's stock worth $464,000 after purchasing an additional 15,812 shares during the period. Rothschild Investment LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the 2nd quarter worth approximately $45,000. Sage Mountain Advisors LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the 2nd quarter worth approximately $245,000. Finally, Ritholtz Wealth Management lifted its holdings in shares of Sumitomo Mitsui Financial Group by 35.0% in the 2nd quarter. Ritholtz Wealth Management now owns 159,613 shares of the bank's stock valued at $2,140,000 after buying an additional 41,407 shares during the period. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

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.