Sumitomo Mitsui Financial Group (NYSE:SMFG) Stock Price Down 1.9% - Time to Sell?

Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Get Free Report) dropped 1.9% during trading on Monday . The stock traded as low as $16.37 and last traded at $16.40. Approximately 431,200 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 1,182,166 shares. The stock had previously closed at $16.72.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research note on Friday, March 21st.

Sumitomo Mitsui Financial Group Stock Down 3.1 %

The business's 50 day simple moving average is $15.32 and its 200 day simple moving average is $14.25. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $101.87 billion, a PE ratio of 15.28, a PEG ratio of 2.36 and a beta of 0.59.

Institutional Trading of Sumitomo Mitsui Financial Group

A number of hedge funds have recently added to or reduced their stakes in SMFG. Charles Schwab Investment Management Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 12.7% in the 3rd 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. Allspring Global Investments Holdings LLC raised its holdings in Sumitomo Mitsui Financial Group by 76.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 576,485 shares of the bank's stock worth $8,301,000 after purchasing an additional 249,543 shares in the last quarter. Capital Insight Partners LLC raised its holdings in Sumitomo Mitsui Financial Group by 59.9% in the fourth quarter. Capital Insight Partners LLC now owns 49,157 shares of the bank's stock worth $712,000 after purchasing an additional 18,415 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 31.7% during the third quarter. Cerity Partners LLC now owns 353,043 shares of the bank's stock valued at $4,459,000 after buying an additional 84,989 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group by 83.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 42,309 shares of the bank's stock valued at $616,000 after buying an additional 19,224 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

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.