Shares of Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (NYSE:SMFG) traded at a new 52-week high today of $7.95. So far today approximately 800,000 shares have been exchanged, as compared to an average 30-day volume of 1.3 million shares.
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 2020, its market share of domestic loans was 7.1%, compared with 8.7% for MUFG. It has a larger consumer finance business than the other two megabanks, owning 100% of the Promise business and controlling two major credit card players. 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.
In the past 52 weeks, Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) share prices are bracketed by a low of $4.49 and a high of $7.95 and is now at $7.87, 75% above that low price.
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) has overhead space with shares priced $7.87, or 74.9% below the average consensus analyst price target of $31.37.
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