Sumitomo Mitsui Financial Group (NYSE:SMFG) Upgraded by StockNews.com to “Hold” Rating

Sumitomo Mitsui Financial Group (NYSE:SMFG) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Sumitomo Mitsui Financial Group Stock Up 2.6 %

Sumitomo Mitsui Financial Group stock opened at $16.69 on Friday. The firm has a 50 day simple moving average of $15.19 and a 200 day simple moving average of $14.16. The firm has a market capitalization of $108.02 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 2.36 and a beta of 0.59. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94. Sumitomo Mitsui Financial Group has a 1-year low of $10.74 and a 1-year high of $16.74.

Institutional Trading of Sumitomo Mitsui Financial Group

Several hedge funds have recently added to or reduced their stakes in SMFG. Park Square Financial Group LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at about $34,000. Jefferies Financial Group Inc. lifted its holdings in Sumitomo Mitsui Financial Group by 7.6% in the fourth quarter. Jefferies Financial Group Inc. now owns 18,311 shares of the bank’s stock worth $265,000 after buying an additional 1,290 shares during the period. Capital A Wealth Management LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at approximately $25,000. Forum Financial Management LP increased its position in shares of Sumitomo Mitsui Financial Group by 15.0% during the fourth quarter. Forum Financial Management LP now owns 222,120 shares of the bank’s stock valued at $3,219,000 after acquiring an additional 28,997 shares in the last quarter. Finally, Parr Mcknight Wealth Management Group LLC bought a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at approximately $3,508,000. 3.85% of the stock is owned by institutional investors.

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.