Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Thursday.
Sumitomo Mitsui Financial Group Stock Performance
Shares of SMFG traded up $0.43 during midday trading on Thursday, hitting $15.91. 1,068,815 shares of the stock traded hands, compared to its average volume of 1,418,049. Sumitomo Mitsui Financial Group has a 1-year low of $10.74 and a 1-year high of $15.96. The firm has a market capitalization 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 company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06. The business's 50 day moving average price is $15.02 and its two-hundred day moving average price is $14.06.
Institutional Investors Weigh In On Sumitomo Mitsui Financial Group
A number of hedge funds and other institutional investors have recently modified their holdings of SMFG. Assetmark Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 23.6% during the third quarter. Assetmark Inc. now owns 8,738 shares of the bank's stock valued at $110,000 after purchasing an additional 1,669 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 3.3% during the third quarter. PNC Financial Services Group Inc. now owns 181,711 shares of the bank's stock valued at $2,295,000 after purchasing an additional 5,858 shares in the last quarter. West Family Investments Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 4.7% during the third quarter. West Family Investments Inc. now owns 26,905 shares of the bank's stock valued at $340,000 after purchasing an additional 1,220 shares in the last quarter. Advisors Asset Management Inc. raised its position in Sumitomo Mitsui Financial Group by 13.8% in the third quarter. Advisors Asset Management Inc. now owns 58,857 shares of the bank's stock worth $743,000 after acquiring an additional 7,139 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Sumitomo Mitsui Financial Group by 12.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 405,921 shares of the bank's stock worth $5,127,000 after acquiring an additional 45,761 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.
Sumitomo Mitsui Financial Group Company Profile
(
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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.
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