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

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

Sumitomo Mitsui Financial Group Stock Up 2.7 %

Sumitomo Mitsui Financial Group stock opened at $15.91 on Thursday. The company has a market capitalization of $102.97 billion, a P/E ratio of 15.44, a PEG ratio of 2.36 and a beta of 0.59. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06. Sumitomo Mitsui Financial Group has a fifty-two week low of $10.74 and a fifty-two week high of $15.96. The stock has a 50-day simple moving average of $15.02 and a 200-day simple moving average of $14.06.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Hedge funds have recently modified their holdings of the business. FMR LLC boosted its stake in Sumitomo Mitsui Financial Group by 16.5% during the 4th quarter. FMR LLC now owns 8,383,293 shares of the bank’s stock worth $121,474,000 after purchasing an additional 1,189,453 shares during the period. Clark Capital Management Group Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 26.9% in 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 during the last quarter. Northern Trust Corp boosted its stake 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 worth $72,877,000 after buying an additional 2,224,913 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Sumitomo Mitsui Financial Group by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,899,574 shares of the bank’s stock worth $42,015,000 after buying an additional 33,783 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Sumitomo Mitsui Financial Group by 4.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,803,684 shares of the bank’s stock worth $26,135,000 after buying an additional 70,946 shares during the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

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.