Sumitomo Mitsui Financial Group (NYSE:SMFG) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Sumitomo Mitsui Financial Group (NYSE:SMFG) from a hold rating to a sell rating in a research report released on Thursday.

Sumitomo Mitsui Financial Group Trading Up 1.2 %

SMFG opened at $15.48 on Thursday. Sumitomo Mitsui Financial Group has a 52 week low of $10.74 and a 52 week high of $15.83. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.94. The business has a fifty day simple moving average of $14.99 and a 200-day simple moving average of $14.04. The firm has a market cap of $100.19 billion, a P/E ratio of 15.02, a P/E/G ratio of 2.36 and a beta of 0.59.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Sumitomo Mitsui Financial Group by 12.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,921 shares of the bank’s stock worth $5,127,000 after purchasing an additional 45,761 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Sumitomo Mitsui Financial Group by 76.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 576,485 shares of the bank’s stock valued at $8,301,000 after buying an additional 249,543 shares during the period. Capital Insight Partners LLC boosted its position in Sumitomo Mitsui Financial Group by 59.9% during the fourth quarter. Capital Insight Partners LLC now owns 49,157 shares of the bank’s stock worth $712,000 after acquiring an additional 18,415 shares during the last quarter. Cerity Partners LLC grew its stake in Sumitomo Mitsui Financial Group by 31.7% in the 3rd quarter. Cerity Partners LLC now owns 353,043 shares of the bank’s stock worth $4,459,000 after acquiring an additional 84,989 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Sumitomo Mitsui Financial Group by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,369,950 shares of the bank’s stock valued at $17,302,000 after acquiring an additional 517,179 shares during the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.