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

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 SMFG opened at $14.09 on Friday. The company has a 50-day moving average of $13.12 and a two-hundred day moving average of $13.09. The stock has a market cap of $92.16 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 3.23 and a beta of 0.59. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.06 and a quick ratio of 1.05. Sumitomo Mitsui Financial Group has a one year low of $9.16 and a one year high of $14.60.

Insiders Place Their Bets

In other Sumitomo Mitsui Financial Group news, Director Mitsui Financial Grou Sumitomo acquired 9,247,081 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was purchased at an average cost of $59.67 per share, for a total transaction of $551,773,323.27. Following the transaction, the director now owns 9,247,081 shares of the company’s stock, valued at $551,773,323.27. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Institutional Trading of Sumitomo Mitsui Financial Group

Several institutional investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Sumitomo Mitsui Financial Group by 266.5% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,800 shares of the bank’s stock valued at $8,258,000 after buying an additional 447,800 shares during the period. Benson Investment Management Company Inc. acquired a new position in shares of Sumitomo Mitsui Financial Group in the third quarter worth $5,182,000. FMR LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 5.0% during the third quarter. FMR LLC now owns 7,193,840 shares of the bank’s stock worth $90,858,000 after acquiring an additional 342,604 shares in the last quarter. Leuthold Group LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group during the third quarter worth $3,907,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Sumitomo Mitsui Financial Group by 844.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 326,942 shares of the bank’s stock valued at $4,129,000 after purchasing an additional 292,334 shares during 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.