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

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

Sumitomo Mitsui Financial Group Stock Down 2.9 %

SMFG stock opened at $7.66 on Thursday. Sumitomo Mitsui Financial Group has a one year low of $5.39 and a one year high of $9.18. The stock has a market capitalization of $52.65 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 1.40 and a beta of 0.68. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.03 and a current ratio of 1.04. The company has a fifty day moving average of $8.62 and a 200-day moving average of $7.16.

Institutional Trading of Sumitomo Mitsui Financial Group

Several hedge funds have recently made changes to their positions in SMFG. Invesco Ltd. increased its holdings in shares of Sumitomo Mitsui Financial Group by 4,169.7% in the 1st quarter. Invesco Ltd. now owns 4,154,809 shares of the bank’s stock valued at $26,051,000 after purchasing an additional 4,057,499 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Sumitomo Mitsui Financial Group by 8,028.0% in the 2nd quarter. Jane Street Group LLC now owns 4,035,459 shares of the bank’s stock valued at $23,809,000 after purchasing an additional 3,985,810 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Sumitomo Mitsui Financial Group by 526.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,557,985 shares of the bank’s stock valued at $16,039,000 after purchasing an additional 2,149,935 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Sumitomo Mitsui Financial Group in the 3rd quarter valued at about $9,315,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Sumitomo Mitsui Financial Group by 16.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 9,482,362 shares of the bank’s stock valued at $55,947,000 after purchasing an additional 1,324,493 shares in the last quarter. Institutional investors and hedge funds own 1.65% of the company’s stock.

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.