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

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

Sumitomo Mitsui Financial Group Trading Up 0.7 %

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

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMFG. Capital A Wealth Management LLC acquired a new position in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at about $25,000. Bessemer Group Inc. boosted its position in Sumitomo Mitsui Financial Group by 138.1% in the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank’s stock valued at $28,000 after buying an additional 1,119 shares during the last quarter. Versant Capital Management Inc acquired a new position in Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $30,000. TD Waterhouse Canada Inc. raised its position in Sumitomo Mitsui Financial Group by 2,178.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank’s stock worth $45,000 after buying an additional 2,963 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its stake in Sumitomo Mitsui Financial Group by 36.8% during the 4th quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank’s stock valued at $51,000 after acquiring an additional 940 shares during the period. Hedge funds and other institutional investors own 3.85% of the company’s stock.

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.