Sumitomo Mitsui Financial Group (NYSE:SMFG) Rating Increased to Hold at StockNews.com

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Sumitomo Mitsui Financial Group Stock Performance

Shares of NYSE SMFG traded up $0.21 during trading hours on Friday, hitting $14.27. 477,658 shares of the stock were exchanged, compared to its average volume of 847,892. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.06 and a quick ratio of 1.05. Sumitomo Mitsui Financial Group has a one year low of $9.16 and a one year high of $14.53. The company's 50 day moving average is $13.06 and its 200 day moving average is $13.03. The firm has a market capitalization of $93.34 billion, a P/E ratio of 12.30, a P/E/G ratio of 3.18 and a beta of 0.59.

Insider Activity at Sumitomo Mitsui Financial Group

In related news, Director Mitsui Financial Grou Sumitomo acquired 9,247,081 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The shares were bought at an average cost of $59.67 per share, with a total value of $551,773,323.27. Following the completion of the purchase, the director now directly owns 9,247,081 shares in the company, valued at $551,773,323.27. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SMFG. Boston Partners raised its holdings in Sumitomo Mitsui Financial Group by 56.6% during the 1st quarter. Boston Partners now owns 251,597 shares of the bank's stock worth $2,959,000 after purchasing an additional 90,959 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Sumitomo Mitsui Financial Group by 10.8% during the 2nd quarter. QRG Capital Management Inc. now owns 436,417 shares of the bank's stock valued at $5,852,000 after purchasing an additional 42,675 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Sumitomo Mitsui Financial Group by 21.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 493,977 shares of the bank's stock worth $6,239,000 after purchasing an additional 87,993 shares during the period. &PARTNERS purchased a new stake in Sumitomo Mitsui Financial Group during the second quarter valued at approximately $410,000. Finally, Capital Wealth Planning LLC lifted its stake in Sumitomo Mitsui Financial Group by 36.0% during the 2nd quarter. Capital Wealth Planning LLC now owns 320,467 shares of the bank's stock worth $4,297,000 after acquiring an additional 84,901 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.