Sumitomo Mitsui Financial Grp (NYSE:SMFG) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Sumitomo Mitsui Financial Grp (NYSE:SMFG) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “SUMITOMO MITSUI FINANCIAL GROUP, INC., is a financial holding company established through a share transfer from Sumitomo Mitsui Banking Corporation. As a holding company, SMFG has functions such as strategic planning, management, resource allocation, strategic planning of information systems, financial management, investor relations, risk management, human resource management for group executives, and business auditing of the group as a whole. Sumitomo Mitsui Card Company, Limited, SMBC Leasing Company, Limited, SMBC Friend Securities and The Japan Research Institute are wholly-owned subsidiaries of SMFG. “

Separately, ValuEngine downgraded shares of Sumitomo Mitsui Financial Grp from a hold rating to a sell rating in a research note on Friday, November 8th.

SMFG traded up $0.03 during trading on Wednesday, hitting $7.30. The stock had a trading volume of 938,867 shares, compared to its average volume of 1,078,485. The company has a market capitalization of $50.44 billion, a PE ratio of 7.60, a PEG ratio of 2.84 and a beta of 1.23. Sumitomo Mitsui Financial Grp has a twelve month low of $6.32 and a twelve month high of $7.61. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day simple moving average of $7.01 and a two-hundred day simple moving average of $6.94.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Coastal Investment Advisors Inc. lifted its stake in shares of Sumitomo Mitsui Financial Grp by 128.2% during the second quarter. Coastal Investment Advisors Inc. now owns 3,884 shares of the bank’s stock worth $27,000 after buying an additional 2,182 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of Sumitomo Mitsui Financial Grp during the second quarter worth $36,000. SRS Capital Advisors Inc. acquired a new stake in shares of Sumitomo Mitsui Financial Grp during the second quarter worth $39,000. Cornerstone Advisors Inc. lifted its stake in shares of Sumitomo Mitsui Financial Grp by 44.3% during the second quarter. Cornerstone Advisors Inc. now owns 5,631 shares of the bank’s stock worth $40,000 after buying an additional 1,728 shares during the period. Finally, Capital Investment Advisory Services LLC acquired a new stake in shares of Sumitomo Mitsui Financial Grp during the second quarter worth $41,000. Institutional investors own 2.54% of the company’s stock.

Sumitomo Mitsui Financial Grp Company Profile

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services primarily in Japan. It operates through four segments: Wholesale Business, Retail Business, International Business, and Global Markets Business.

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