Sumitomo Mitsui Financial Group (NYSE:SMFG) Upgraded at StockNews.com

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

Sumitomo Mitsui Financial Group Price Performance

NYSE:SMFG opened at $16.69 on Friday. Sumitomo Mitsui Financial Group has a 52 week low of $10.74 and a 52 week high of $16.74. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06. The firm’s 50-day simple moving average is $15.19 and its 200 day simple moving average is $14.17. The firm has a market cap of $108.02 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 2.36 and a beta of 0.59.

Institutional Trading of Sumitomo Mitsui Financial Group

Several large investors have recently modified their holdings of SMFG. Northern Trust Corp grew 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 buying an additional 2,224,913 shares in the last quarter. Clark Capital Management Group Inc. lifted its holdings 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 during the period. FMR LLC boosted its position in shares of 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 acquiring an additional 1,189,453 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Sumitomo Mitsui Financial Group by 60.6% in the third quarter. JPMorgan Chase & Co. now owns 1,369,950 shares of the bank’s stock valued at $17,302,000 after acquiring an additional 517,179 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in 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 purchasing an additional 434,728 shares in the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

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.