Is Sumitomo Mitsui Financial Group Inc (SMFG) a Stock to Watch After Gaining 10.41% This Week?

Overall market sentiment has been high on Sumitomo Mitsui Financial Group Inc (SMFG) stock lately. SMFG receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.

Sumitomo Mitsui Financial Group Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on SMFG!

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What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment. Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down. InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend. Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With SMFG Stock Today?

Sumitomo Mitsui Financial Group Inc (SMFG) stock is trading at $12.41 as of 9:53 AM on Friday, Mar 8, a rise of $0.37, or 3.07% from the previous closing price of $12.04. The stock has traded between $12.35 and $12.45 so far today. Volume today is less active than usual. So far 172,091 shares have traded compared to average volume of 1,673,828 shares.

More About Sumitomo Mitsui Financial Group Inc

Sumitomo Mitsui Financial Group is roughly tied with Mizuho Financial Group for the status of Japan's second-largest bank after Mitsubishi UFJ Financial Group. As of March 2021, its market share of domestic loans was 7.0%, compared with 8.5% for MUFG. It has a larger consumer finance business than the other two megabanks, owning 100% of the Promise business and SMBC Card. It also controls one of Japan's largest leasing companies and SMBC Aviation Capital, one of the top five aircraft lessors globally. In securities, its SMBC Nikko unit is Japan's third-largest retail broker, although SMFG has lagged somewhat in institutional securities business and asset management, areas that it is working on strengthening. Click Here to get the full Stock Report for Sumitomo Mitsui Financial Group Inc stock.