Sumitomo Mitsui Financial Group (NYSE:SMFG) Cut to Sell at StockNews.com

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

Sumitomo Mitsui Financial Group Stock Performance

Shares of NYSE SMFG opened at $15.91 on Thursday. 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 stock has a market capitalization of $102.97 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 2.36 and a beta of 0.59. The stock’s fifty day simple moving average is $15.02 and its 200 day simple moving average is $14.05. Sumitomo Mitsui Financial Group has a 52-week low of $10.74 and a 52-week high of $15.96.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SMFG. Northern Trust Corp grew its holdings in shares of Sumitomo Mitsui Financial Group by 79.3% during the fourth quarter. Northern Trust Corp now owns 5,029,497 shares of the bank’s stock valued at $72,877,000 after buying an additional 2,224,913 shares in the last quarter. Clark Capital Management Group Inc. grew its holdings in shares of Sumitomo Mitsui Financial Group by 26.9% during the fourth quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank’s stock valued at $92,509,000 after buying an additional 1,355,287 shares in the last quarter. FMR LLC grew its holdings in shares of Sumitomo Mitsui Financial Group by 16.5% during the fourth quarter. FMR LLC now owns 8,383,293 shares of the bank’s stock valued at $121,474,000 after buying an additional 1,189,453 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Sumitomo Mitsui Financial Group by 60.6% during the third quarter. JPMorgan Chase & Co. now owns 1,369,950 shares of the bank’s stock valued at $17,302,000 after buying an additional 517,179 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Sumitomo Mitsui Financial Group by 139.7% during the fourth quarter. Bank of New York Mellon Corp now owns 745,849 shares of the bank’s stock valued at $10,807,000 after buying an additional 434,728 shares in the last quarter. Hedge funds and other institutional investors 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.