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

StockNews.com cut shares of Sumitomo Mitsui Financial Group (NYSE:SMFG) from a hold rating to a sell rating in a report published on Tuesday.

Sumitomo Mitsui Financial Group Stock Up 0.7 %

Shares of SMFG opened at $15.51 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94. The firm has a market cap of $101.42 billion, a P/E ratio of 15.05, a PEG ratio of 2.36 and a beta of 0.63. The stock’s 50 day moving average is $14.81 and its two-hundred day moving average is $13.90. Sumitomo Mitsui Financial Group has a 12 month low of $10.74 and a 12 month high of $15.83.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

A number of large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its position in shares of Sumitomo Mitsui Financial Group by 844.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 326,942 shares of the bank’s stock worth $4,129,000 after purchasing an additional 292,334 shares during the last quarter. Private Advisor Group LLC increased its stake in Sumitomo Mitsui Financial Group by 5.4% during the 3rd quarter. Private Advisor Group LLC now owns 24,273 shares of the bank’s stock worth $307,000 after buying an additional 1,238 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Sumitomo Mitsui Financial Group during the third quarter valued at approximately $685,000. Diversify Wealth Management LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 5.3% in the third quarter. Diversify Wealth Management LLC now owns 51,524 shares of the bank’s stock valued at $633,000 after acquiring an additional 2,603 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Sumitomo Mitsui Financial Group by 7.8% in the third quarter. US Bancorp DE now owns 291,835 shares of the bank’s stock worth $3,686,000 after acquiring an additional 21,086 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

About Sumitomo Mitsui Financial Group

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.