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

Sumitomo Mitsui Financial Group (NYSE:SMFG) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Sumitomo Mitsui Financial Group Trading Up 1.3 %

SMFG traded up $0.21 during midday trading on Tuesday, hitting $15.41. 1,436,038 shares of the company were exchanged, compared to its average volume of 1,574,389. The firm has a market capitalization of $100.76 billion, a P/E ratio of 14.96, a P/E/G ratio of 2.36 and a beta of 0.63. The firm’s 50 day moving average price is $14.75 and its 200-day moving average price is $13.88. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.94. Sumitomo Mitsui Financial Group has a 1-year low of $10.74 and a 1-year high of $15.83.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of SMFG. Charles Schwab Investment Management Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 12.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,921 shares of the bank’s stock worth $5,127,000 after acquiring an additional 45,761 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in Sumitomo Mitsui Financial Group by 21.7% during the third quarter. Crossmark Global Holdings Inc. now owns 493,977 shares of the bank’s stock worth $6,239,000 after purchasing an additional 87,993 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Sumitomo Mitsui Financial Group by 76.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 576,485 shares of the bank’s stock worth $8,301,000 after purchasing an additional 249,543 shares in the last quarter. Capital Insight Partners LLC lifted its stake in Sumitomo Mitsui Financial Group by 59.9% in the fourth quarter. Capital Insight Partners LLC now owns 49,157 shares of the bank’s stock valued at $712,000 after buying an additional 18,415 shares during the period. Finally, Cerity Partners LLC lifted its stake in Sumitomo Mitsui Financial Group by 31.7% in the third quarter. Cerity Partners LLC now owns 353,043 shares of the bank’s stock valued at $4,459,000 after buying an additional 84,989 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.

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.