Sumitomo Mitsui Trust (OTCMKTS:SUTNY) Shares Gap Up – Here’s Why

Sumitomo Mitsui Trust Holdings, Inc. (OTCMKTS:SUTNY) gapped up prior to trading on Friday. The stock had previously closed at $5.51, but opened at $5.70. Sumitomo Mitsui Trust shares last traded at $5.70, with a volume of 181 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Sumitomo Mitsui Trust from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Sumitomo Mitsui Trust Stock Performance

The stock has a fifty day simple moving average of $6.16 and a 200-day simple moving average of $6.74. The stock has a market cap of $31.73 billion and a P/E ratio of 13.16. The company has a debt-to-equity ratio of 3.72, a quick ratio of 0.99 and a current ratio of 0.99.

Sumitomo Mitsui Trust (OTCMKTS:SUTNY) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.23 EPS for the quarter. Sumitomo Mitsui Trust had a return on equity of 10.45% and a net margin of 11.81%.The company had revenue of $4.93 billion for the quarter, compared to analyst estimates of $1.33 billion. On average, equities analysts expect that Sumitomo Mitsui Trust Holdings, Inc. will post 0.49 earnings per share for the current year.

About Sumitomo Mitsui Trust

Sumitomo Mitsui Trust Group, Inc, formerly known as Sumitomo Mitsui Trust Holdings, Inc, is a Japan-based financial holding company and the parent of Sumitomo Mitsui Trust Bank. The group provides trust banking, commercial banking, asset management, asset administration and investment services to individuals, corporations, institutional investors and public-sector customers.

Its businesses include deposits and lending, investment trusts, pensions, securities investment and custody services, real estate-related services, stock transfer agency services and inheritance-related support.