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

StockNews.com upgraded shares of Sumitomo Mitsui Financial Group (NYSE:SMFG) from a sell rating to a hold rating in a report published on Saturday.

Sumitomo Mitsui Financial Group Stock Performance

Shares of NYSE SMFG opened at $14.09 on Friday. Sumitomo Mitsui Financial Group has a 12-month low of $9.16 and a 12-month high of $14.60. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.91. The company has a market cap of $92.16 billion, a PE ratio of 12.15, a P/E/G ratio of 3.23 and a beta of 0.59. The stock has a 50 day simple moving average of $13.12 and a 200-day simple moving average of $13.09.

Insider Activity

In other news, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average price of $59.67 per share, with a total value of $551,773,323.27. Following the completion of the acquisition, the director now directly owns 9,247,081 shares in the company, valued at approximately $551,773,323.27. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Hedge funds have recently modified their holdings of the company. Synovus Financial Corp acquired a new position in Sumitomo Mitsui Financial Group during the third quarter worth about $199,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Sumitomo Mitsui Financial Group in the 3rd quarter worth approximately $143,000. World Investment Advisors LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the 3rd quarter worth approximately $140,000. Sanctuary Advisors LLC lifted its stake in Sumitomo Mitsui Financial Group by 43.0% during the third quarter. Sanctuary Advisors LLC now owns 28,248 shares of the bank’s stock valued at $357,000 after purchasing an additional 8,488 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd boosted its holdings in Sumitomo Mitsui Financial Group by 9.4% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 86,951 shares of the bank’s stock worth $1,092,000 after buying an additional 7,474 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

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.