StockNews.com Begins Coverage on Sumitomo Mitsui Financial Group (NYSE:SMFG)

StockNews.com initiated coverage on shares of Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Rating) in a research note issued to investors on Thursday. The firm issued a hold rating on the bank’s stock.

Sumitomo Mitsui Financial Group Stock Performance

NYSE:SMFG opened at $7.66 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 1.89. The firm has a 50-day moving average price of $8.62 and a two-hundred day moving average price of $7.16. Sumitomo Mitsui Financial Group has a twelve month low of $5.39 and a twelve month high of $9.18. The company has a market capitalization of $52.65 billion, a P/E ratio of 8.33, a price-to-earnings-growth ratio of 1.40 and a beta of 0.68.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank grew its holdings in shares of Sumitomo Mitsui Financial Group by 5.5% during the third quarter. Comerica Bank now owns 126,409 shares of the bank’s stock worth $706,000 after buying an additional 6,545 shares in the last quarter. Yousif Capital Management LLC grew its holdings in shares of Sumitomo Mitsui Financial Group by 8.7% during the third quarter. Yousif Capital Management LLC now owns 114,861 shares of the bank’s stock worth $632,000 after buying an additional 9,180 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Sumitomo Mitsui Financial Group by 1,166.3% during the third quarter. EverSource Wealth Advisors LLC now owns 4,698 shares of the bank’s stock worth $26,000 after buying an additional 4,327 shares in the last quarter. Schechter Investment Advisors LLC grew its holdings in shares of Sumitomo Mitsui Financial Group by 26.9% during the third quarter. Schechter Investment Advisors LLC now owns 91,942 shares of the bank’s stock worth $506,000 after buying an additional 19,496 shares in the last quarter. Finally, SVB Wealth LLC grew its holdings in shares of Sumitomo Mitsui Financial Group by 44.2% during the third quarter. SVB Wealth LLC now owns 36,124 shares of the bank’s stock worth $199,000 after buying an additional 11,080 shares in the last quarter. 1.65% of the stock is currently owned by hedge funds and other institutional investors.

About Sumitomo Mitsui Financial Group

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Sumitomo Mitsui Financial Group, Inc operates as a holding company, which engages in the management of its subsidiaries that provide financial services. It operates through the following segments: Commercial Banking, Leasing, Securities, and Consumer Finance. The Commercial Banking segment consists of consumer banking, middle market banking, wholesale banking, retail banking, international banking, and treasury units.