Sumitomo Mitsui Financial Group Inc ADR [SMFG] Stock trading around $10.42 per share: What’s Next?

Sumitomo Mitsui Financial Group Inc ADR [NYSE: SMFG] stock went on a downward path that fall over 0.00% on Friday, amounting to a one-week price increase of more than 2.96%. The company report on December 5, 2023 at 10:06 AM that Manufacturers Bank Rebrands as SMBC MANUBANK.

Name change honors storied past while setting vision for innovative growth.

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Manufacturers Bank, a wholly owned subsidiary of SMBC Americas Holdings, Inc., a member of SMBC Group, announced today that it has changed its name to SMBC MANUBANK. The new name reflects the bank’s strategic vision to transform and expand its commercial banking business, compete in the digital consumer bank space, and further align with SMBC Group.

Over the last 12 months, SMFG stock rose by 18.95%. The one-year Sumitomo Mitsui Financial Group Inc ADR stock forecast points to a potential upside of 10.09. The average equity rating for SMFG stock is currently 1.67, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $68.97 billion, with 6.72 billion shares outstanding and 6.61 billion shares in the current float. Compared to the average trading volume of 2.08M shares, SMFG stock reached a trading volume of 9624669 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 ADR [SMFG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SMFG shares is $11.59 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 1.67. 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.

Goldman have made an estimate for Sumitomo Mitsui Financial Group Inc ADR shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 20, 2023.

The Average True Range (ATR) for Sumitomo Mitsui Financial Group Inc ADR is set at 0.17, with the Price to Sales ratio for SMFG stock in the period of the last 12 months amounting to 1.18. The Price to Book ratio for the last quarter was 0.71.

SMFG Stock Performance Analysis:

Sumitomo Mitsui Financial Group Inc ADR [SMFG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.96. With this latest performance, SMFG shares gained by 8.54% in over the last four-week period, additionally plugging by 16.29% over the last 6 months – not to mention a rise of 18.95% 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 65.98, with the RSI for the last a single of trading hit 70.68, and the three-weeks RSI is set at 62.22 for Sumitomo Mitsui Financial Group Inc ADR [SMFG]. The present Moving Average for the last 50 days of trading for this stock 9.84, while it was recorded at 10.31 for the last single week of trading, and 9.23 for the last 200 days.

Insight into Sumitomo Mitsui Financial Group Inc ADR Fundamentals:

Sumitomo Mitsui Financial Group Inc ADR’s liquidity data is similarly interesting compelling, with a Current Ratio set at 2.62.

SMFG Stock EPS

With the latest financial reports released by the company, Sumitomo Mitsui Financial Group Inc ADR posted 0.05/share EPS, while the average EPS was predicted by analysts to be reported at 0.09/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -44.40%. 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 ADR go to 6.30%.

Sumitomo Mitsui Financial Group Inc ADR [SMFG] Institutonal Ownership Details

The top three institutional holders of SMFG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SMFG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SMFG stock with ownership which is approximately 5.8325%.