Sumitomo Mitsui Financial Group (NYSE:SMFG) Stock Rating Lowered by StockNews.com

Sumitomo Mitsui Financial Group (NYSE:SMFG) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

Sumitomo Mitsui Financial Group Trading Down 0.3 %

Shares of SMFG stock opened at $15.39 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.94. Sumitomo Mitsui Financial Group has a fifty-two week low of $10.74 and a fifty-two week high of $15.83. The firm’s 50 day moving average price is $14.78 and its two-hundred day moving average price is $13.89. The stock has a market cap of $100.63 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.63.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SMFG. Northern Trust Corp grew its position in Sumitomo Mitsui Financial Group by 79.3% in the fourth quarter. Northern Trust Corp now owns 5,029,497 shares of the bank’s stock valued at $72,877,000 after acquiring an additional 2,224,913 shares in the last quarter. Clark Capital Management Group Inc. increased its holdings in Sumitomo Mitsui Financial Group by 26.9% in the fourth quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank’s stock valued at $92,509,000 after buying an additional 1,355,287 shares during the last quarter. FMR LLC raised its stake in Sumitomo Mitsui Financial Group by 16.5% during the fourth quarter. FMR LLC now owns 8,383,293 shares of the bank’s stock valued at $121,474,000 after buying an additional 1,189,453 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Sumitomo Mitsui Financial Group by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,369,950 shares of the bank’s stock worth $17,302,000 after acquiring an additional 517,179 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Sumitomo Mitsui Financial Group by 139.7% in the 4th quarter. Bank of New York Mellon Corp now owns 745,849 shares of the bank’s stock worth $10,807,000 after acquiring an additional 434,728 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

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.