Wells Fargo & Company MN cut its stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 36.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,080,805 shares of the bank's stock after selling 1,199,954 shares during the period. Wells Fargo & Company MN's holdings in Sumitomo Mitsui Financial Group were worth $30,151,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in shares of Sumitomo Mitsui Financial Group by 7.5% in the fourth quarter. Farther Finance Advisors LLC now owns 10,946 shares of the bank's stock worth $159,000 after purchasing an additional 763 shares during the last quarter. Wealthstream Advisors Inc. grew its stake in Sumitomo Mitsui Financial Group by 7.4% in the 4th quarter. Wealthstream Advisors Inc. now owns 11,483 shares of the bank's stock worth $166,000 after buying an additional 794 shares in the last quarter. Pitcairn Co. increased its holdings in shares of Sumitomo Mitsui Financial Group by 2.6% in the 4th quarter. Pitcairn Co. now owns 34,133 shares of the bank's stock worth $495,000 after buying an additional 876 shares during the last quarter. Richardson Financial Services Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 36.8% during the 4th quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank's stock valued at $51,000 after buying an additional 940 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 5.2% during the 4th quarter. Lindbrook Capital LLC now owns 19,343 shares of the bank's stock worth $280,000 after acquiring an additional 948 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.
Sumitomo Mitsui Financial Group Trading Down 3.9 %
Shares of SMFG traded down $0.53 during mid-day trading on Wednesday, reaching $13.06. The company's stock had a trading volume of 1,244,887 shares, compared to its average volume of 1,300,006. Sumitomo Mitsui Financial Group, Inc. has a 52 week low of $10.74 and a 52 week high of $16.74. The stock has a market cap of $84.55 billion, a PE ratio of 12.68, a P/E/G ratio of 2.36 and a beta of 0.41. The company's fifty day moving average price is $14.91 and its two-hundred day moving average price is $14.33. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94.
Analyst Ratings Changes
Separately, StockNews.com raised Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research note on Friday, March 21st.
View Our Latest Stock Analysis on SMFG
Sumitomo Mitsui Financial Group Profile
(
Free Report)
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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