Sumitomo Mitsui Financial Group (NYSE:SMFG) Cut to “Sell” at StockNews.com

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

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG stock traded up $0.21 on Tuesday, hitting $15.41. 1,436,038 shares of the company’s stock were exchanged, compared to its average volume of 1,574,389. Sumitomo Mitsui Financial Group has a 12 month low of $10.74 and a 12 month high of $15.83. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05. The company has a 50 day moving average of $14.75 and a 200 day moving average of $13.88. The stock has a market cap of $100.76 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 2.36 and a beta of 0.63.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

A number of institutional investors have recently added to or reduced their stakes in SMFG. Bessemer Group Inc. grew its stake in shares of Sumitomo Mitsui Financial Group by 138.1% during the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank’s stock worth $28,000 after buying an additional 1,119 shares during the last quarter. Versant Capital Management Inc bought a new stake in Sumitomo Mitsui Financial Group during the 4th quarter worth $30,000. TD Waterhouse Canada Inc. increased its holdings in Sumitomo Mitsui Financial Group by 2,178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank’s stock worth $45,000 after purchasing an additional 2,963 shares in the last quarter. Richardson Financial Services Inc. raised its position in Sumitomo Mitsui Financial Group by 36.8% in the fourth quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank’s stock valued at $51,000 after purchasing an additional 940 shares during the last quarter. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 29.5% during the fourth quarter. Bruce G. Allen Investments LLC now owns 5,445 shares of the bank’s stock valued at $79,000 after purchasing an additional 1,239 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

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.