Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) Upgraded to Sell at BidaskClub

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Friday, October 27th.

Several other research analysts have also commented on SMFG. ValuEngine lowered shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 28th. Zacks Investment Research upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research note on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $8.25.

Shares of Sumitomo Mitsui Financial Group (NYSE:SMFG) traded up $0.02 during mid-day trading on Friday, reaching $7.85. 645,400 shares of the company traded hands, compared to its average volume of 1,205,867. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.95. Sumitomo Mitsui Financial Group has a 52 week low of $6.93 and a 52 week high of $8.30. The stock has a market capitalization of $55,206.39, a PE ratio of 7.53 and a beta of 1.35.

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Several hedge funds and other institutional investors have recently bought and sold shares of SMFG. Oppenheimer Asset Management Inc. increased its position in Sumitomo Mitsui Financial Group by 51.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 186,230 shares of the bank’s stock worth $1,436,000 after purchasing an additional 63,507 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in shares of Sumitomo Mitsui Financial Group by 42.0% during the 3rd quarter. First Republic Investment Management Inc. now owns 128,448 shares of the bank’s stock valued at $990,000 after buying an additional 37,984 shares during the last quarter. Stifel Financial Corp lifted its stake in Sumitomo Mitsui Financial Group by 12.5% during the third quarter. Stifel Financial Corp now owns 596,561 shares of the bank’s stock worth $4,604,000 after purchasing an additional 66,419 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Sumitomo Mitsui Financial Group by 4.7% during the third quarter. Wells Fargo & Company MN now owns 4,635,719 shares of the bank’s stock worth $35,742,000 after purchasing an additional 209,872 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in Sumitomo Mitsui Financial Group by 16.5% in the third quarter. Eagle Asset Management Inc. now owns 52,676 shares of the bank’s stock valued at $405,000 after buying an additional 7,478 shares during the last quarter. 2.33% of the stock is owned by 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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