BofA Securities lifts Sumitomo Mitsui Financial Group Inc. [SMFG] price estimate. Who else is bullish?

Sumitomo Mitsui Financial Group Inc. [NYSE: SMFG] stock went on an upward path that rose over 1.35% on Wednesday, amounting to a one-week price increase of more than 2.91%. The company report on August 24, 2022 that SMBC Group to Launch Jenius Bank™, a New Digital Consumer Banking Business in the U.S.


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Sumitomo Mitsui Financial Group, Inc. (“SMFG”, President and Group CEO Jun Ohta, together with subsidiaries “SMBC Group”) announced today that it will strengthen its presence in the U.S. with a new digital consumer banking business. Jenius Bank™ will launch and operate as a new division of Manufacturers Bank, a California state-chartered bank that is a wholly-owned subsidiary of SMBC Group.

Jenius Bank will launch in the coming months with personal loans and then expand its offerings with savings and checking products within its first year. Jenius Bank has established an extensive and ongoing consumer research program that will drive product designs with direct customer input. “With the launch of Jenius Bank, we have the rare opportunity to build exceptional products from scratch that uniquely meet the needs of today’s digitally-native consumers who need and expect more,” said Kazuhisa Miyagawa, Chairman and CEO of Manufacturers Bank.

Over the last 12 months, SMFG stock dropped by -17.19%. The one-year Sumitomo Mitsui Financial Group Inc. stock forecast points to a potential upside of 14.49. The average equity rating for SMFG stock is currently 1.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $40.62 billion, with 6.85 billion shares outstanding and 6.38 billion shares in the current float. Compared to the average trading volume of 2.66M shares, SMFG stock reached a trading volume of 3559520 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Sumitomo Mitsui Financial Group Inc. [SMFG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SMFG shares is $7.04 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SMFG stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Sumitomo Mitsui Financial Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 23, 2022. The new note on the price target was released on April 11, 2022, representing the official price target for Sumitomo Mitsui Financial Group Inc. stock.

The Average True Range (ATR) for Sumitomo Mitsui Financial Group Inc. is set at 0.10, with the Price to Sales ratio for SMFG stock in the period of the last 12 months amounting to 2.75. The Price to Book ratio for the last quarter was 0.48, with the Price to Cash per share for the same quarter was set at 109.51.

SMFG Stock Performance Analysis:

Sumitomo Mitsui Financial Group Inc. [SMFG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.91. With this latest performance, SMFG shares dropped by -3.99% in over the last four-week period, additionally sinking by -11.21% over the last 6 months – not to mention a drop of -17.19% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SMFG stock in for the last two-week period is set at 47.59, with the RSI for the last a single of trading hit 47.54, and the three-weeks RSI is set at 48.09 for Sumitomo Mitsui Financial Group Inc. [SMFG]. The present Moving Average for the last 50 days of trading for this stock 6.07, while it was recorded at 6.05 for the last single week of trading, and 6.47 for the last 200 days.

Insight into Sumitomo Mitsui Financial Group Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Sumitomo Mitsui Financial Group Inc. [SMFG] shares currently have an operating margin of +26.78. Sumitomo Mitsui Financial Group Inc.’s Net Margin is presently recorded at +17.57.

Return on Total Capital for SMFG is now 1.65, given the latest momentum, and Return on Invested Capital for the company is 2.34. Return on Equity for this stock inclined to 5.91, with Return on Assets sitting at 0.28. When it comes to the capital structure of this company, Sumitomo Mitsui Financial Group Inc. [SMFG] has a Total Debt to Total Equity ratio set at 459.00. Additionally, SMFG Total Debt to Total Capital is recorded at 82.11, with Total Debt to Total Assets ending up at 21.55. Long-Term Debt to Equity for the company is recorded at 153.42, with the Long-Term Debt to Total Capital now at 27.45.

Reflecting on the efficiency of the workforce at the company, Sumitomo Mitsui Financial Group Inc. [SMFG] managed to generate an average of $6,994,754 per employee.

SMFG Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SMFG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Sumitomo Mitsui Financial Group Inc. go to 0.90%.

Sumitomo Mitsui Financial Group Inc. [SMFG] Insider Position Details

108 institutional holders increased their position in Sumitomo Mitsui Financial Group Inc. [NYSE:SMFG] by around 20,597,946 shares. Additionally, 142 investors decreased positions by around 11,144,751 shares, while 33 investors held positions by with 99,994,076 shares. The mentioned changes placed institutional holdings at 131,736,773 shares, according to the latest SEC report filing. SMFG stock had 32 new institutional investments in for a total of 2,823,316 shares, while 38 institutional investors sold positions of 2,565,132 shares during the same period.

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