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

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

Sumitomo Mitsui Financial Group Trading Up 1.5 %

SMFG stock opened at $14.27 on Friday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.05 and a current ratio of 1.06. Sumitomo Mitsui Financial Group has a one year low of $9.16 and a one year high of $14.53. The company’s 50 day moving average price is $13.06 and its two-hundred day moving average price is $13.04. The company has a market capitalization of $93.34 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 3.18 and a beta of 0.59.

Insider Buying and Selling

In other news, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were bought at an average cost of $59.67 per share, with a total value of $551,773,323.27. Following the completion of the purchase, the director now directly owns 9,247,081 shares in the company, valued at $551,773,323.27. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SMFG. Traveka Wealth LLC boosted its holdings in Sumitomo Mitsui Financial Group by 3.2% in the second quarter. Traveka Wealth LLC now owns 27,506 shares of the bank’s stock valued at $369,000 after acquiring an additional 859 shares in the last quarter. Aprio Wealth Management LLC boosted its holdings in Sumitomo Mitsui Financial Group by 7.9% in the third quarter. Aprio Wealth Management LLC now owns 11,795 shares of the bank’s stock valued at $149,000 after acquiring an additional 863 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in Sumitomo Mitsui Financial Group by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 54,183 shares of the bank’s stock valued at $684,000 after acquiring an additional 933 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Sumitomo Mitsui Financial Group by 5.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 20,246 shares of the bank’s stock valued at $271,000 after acquiring an additional 963 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its holdings in Sumitomo Mitsui Financial Group by 2.3% in the second quarter. Checchi Capital Advisers LLC now owns 44,580 shares of the bank’s stock valued at $598,000 after acquiring an additional 990 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other 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.