StockNews.com Downgrades Sumitomo Mitsui Financial Group (NYSE:SMFG) to Sell

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

Sumitomo Mitsui Financial Group Stock Up 2.7 %

Sumitomo Mitsui Financial Group stock opened at $15.91 on Thursday. The company has a 50-day simple moving average of $15.02 and a 200-day simple moving average of $14.05. The firm has a market capitalization of $102.97 billion, a P/E ratio of 15.44, a P/E/G ratio of 2.36 and a beta of 0.59. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06. Sumitomo Mitsui Financial Group has a one year low of $10.74 and a one year high of $15.96.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Several institutional investors have recently bought and sold shares of SMFG. Capital A Wealth Management LLC bought a new stake in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth about $25,000. Bessemer Group Inc. lifted its position in Sumitomo Mitsui Financial Group by 138.1% in the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank’s stock worth $28,000 after purchasing an additional 1,119 shares during the period. Versant Capital Management Inc bought a new position in Sumitomo Mitsui Financial Group during the 4th quarter valued at $30,000. Park Square Financial Group LLC acquired a new position in shares of Sumitomo Mitsui Financial Group during the 4th quarter valued at $34,000. Finally, TD Waterhouse Canada Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 2,178.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank’s stock valued at $45,000 after purchasing an additional 2,963 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.

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.