Summit Global Investments Buys Shares of 38,656 Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Summit Global Investments bought a new stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 38,656 shares of the bank's stock, valued at approximately $560,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Versant Capital Management Inc purchased a new position in Sumitomo Mitsui Financial Group during the fourth quarter valued at $30,000. Richardson Financial Services Inc. boosted its position in shares of Sumitomo Mitsui Financial Group by 36.8% during the fourth quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank's stock worth $51,000 after acquiring an additional 940 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings in Sumitomo Mitsui Financial Group by 29.5% in the 4th quarter. Bruce G. Allen Investments LLC now owns 5,445 shares of the bank's stock valued at $79,000 after acquiring an additional 1,239 shares during the last quarter. Sierra Ocean LLC bought a new stake in Sumitomo Mitsui Financial Group in the 4th quarter valued at $86,000. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Sumitomo Mitsui Financial Group by 32.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 7,944 shares of the bank's stock valued at $115,000 after purchasing an additional 1,968 shares during the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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Sumitomo Mitsui Financial Group Trading Down 3.0 %

Shares of Sumitomo Mitsui Financial Group stock traded down $0.50 during trading on Friday, hitting $15.75. The stock had a trading volume of 1,001,341 shares, compared to its average volume of 1,193,038. The stock has a market cap of $101.93 billion, a PE ratio of 15.29, a PEG ratio of 2.36 and a beta of 0.59. Sumitomo Mitsui Financial Group, Inc. has a 12 month low of $10.74 and a 12 month high of $17.06. The firm's fifty day simple moving average is $15.32 and its 200-day simple moving average is $14.25. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05.

About Sumitomo Mitsui Financial Group

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.