Suruga Bank (TSE:8358) Momentum Rank : 3 (As of Jun. 03, 2024)

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What is Suruga Bank Momentum Rank?

Suruga Bank has the Momentum Rank of 3.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of Suruga Bank's Momentum Rank

For the Banks - Regional subindustry, Suruga Bank's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Suruga Bank's Momentum Rank Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Suruga Bank's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Suruga Bank's Momentum Rank falls into.

Suruga Bank Momentum Rank Related Terms

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Suruga Bank (TSE:8358) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Suruga Bank Ltd (TSE:8358) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

SUGBY:USA URU:Germany

Address

23 Toriyoko-cho, Numazu, JPN

Website

http://www.surugabank.co.jp

Suruga Bank Ltd. is a regional bank in the Kanto area. The company divides its operations into five core businesses: personal loans, housing loans, asset management, life support, and small- to medium-size corporate lending. Specifically, this includes deposits, loans, foreign exchange transactions, leasing, letters of credit, and credit card services. Within their loan business, Suruga caters to consumers, allowing them to access more credit to work on projects such as renovations and refurbishment in addition to traditional housing loans. The company earns the majority of its revenue from housing loans. The bank operates primarily in Shizuoka and Kanagawa.

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