Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Friday, October 27th.
A number of other brokerages also recently commented on SMFG. Zacks Investment Research downgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 7th. ValuEngine downgraded Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $8.25.
Shares of Sumitomo Mitsui Financial Group (NYSE:SMFG) traded down $0.08 during trading on Friday, hitting $7.83. The stock had a trading volume of 709,500 shares, compared to its average volume of 1,208,438. The firm has a market capitalization of $55,770.44, a price-to-earnings ratio of 7.61 and a beta of 1.35. Sumitomo Mitsui Financial Group has a 12 month low of $6.93 and a 12 month high of $8.30. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.95.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC bought a new position in Sumitomo Mitsui Financial Group in the 2nd quarter valued at $105,000. Park National Corp OH bought a new position in Sumitomo Mitsui Financial Group in the 2nd quarter valued at $107,000. Neuberger Berman Group LLC bought a new position in Sumitomo Mitsui Financial Group in the 2nd quarter valued at $120,000. People s United Financial Inc. bought a new position in Sumitomo Mitsui Financial Group in the 2nd quarter valued at $134,000. Finally, Proficio Capital Partners LLC boosted its position in Sumitomo Mitsui Financial Group by 75.1% in the 2nd quarter. Proficio Capital Partners LLC now owns 18,171 shares of the bank’s stock valued at $142,000 after buying an additional 7,791 shares during the last quarter. 2.30% of the stock is owned by hedge funds and other institutional investors.
About Sumitomo Mitsui Financial Group
Sumitomo Mitsui Financial Group, Inc is a holding company for Sumitomo Mitsui Banking Corporation (the Bank) and its subsidiaries. The Company operates through four segments: Commercial Banking, Leasing, Securities and Consumer Finance. The Company and its subsidiaries offer a range of financial services, including commercial banking, leasing, securities, consumer finance and other services.
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