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 issued to investors on Thursday.

Sumitomo Mitsui Financial Group Trading Up 2.7 %

NYSE:SMFG opened at $15.91 on Thursday. The firm has a market cap of $102.97 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 2.36 and a beta of 0.59. The stock has a fifty day moving average price of $15.02 and a 200 day moving average price of $14.06. Sumitomo Mitsui Financial Group has a 12-month low of $10.74 and a 12-month high of $15.96. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Several institutional investors have recently modified their holdings of the company. FMR LLC lifted its holdings 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 buying an additional 1,189,453 shares during the last quarter. Clark Capital Management Group Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 26.9% during the 4th quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank’s stock worth $92,509,000 after acquiring an additional 1,355,287 shares in the last quarter. Northern Trust Corp lifted its stake in 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 purchasing an additional 2,224,913 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sumitomo Mitsui Financial Group by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,899,574 shares of the bank’s stock valued at $42,015,000 after purchasing an additional 33,783 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Sumitomo Mitsui Financial Group by 4.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,803,684 shares of the bank’s stock valued at $26,135,000 after purchasing an additional 70,946 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

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.