Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

A number of other equities analysts also recently issued reports on SMFG. BidaskClub upgraded shares of Sumitomo Mitsui Financial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, October 27th. ValuEngine downgraded shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $8.25.

Shares of Sumitomo Mitsui Financial Group (NYSE SMFG) traded down $0.02 during mid-day trading on Thursday, reaching $8.09. 908,591 shares of the company’s stock were exchanged, compared to its average volume of 880,086. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $57,039.56, a P/E ratio of 7.78 and a beta of 1.35.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. River Road Asset Management LLC lifted its position in Sumitomo Mitsui Financial Group by 31.5% during the third quarter. River Road Asset Management LLC now owns 29,582 shares of the bank’s stock valued at $228,000 after acquiring an additional 7,090 shares during the last quarter. Advisor Partners LLC lifted its position in Sumitomo Mitsui Financial Group by 38.3% during the third quarter. Advisor Partners LLC now owns 26,769 shares of the bank’s stock valued at $206,000 after acquiring an additional 7,414 shares during the last quarter. Bbva Compass Bancshares Inc. lifted its position in Sumitomo Mitsui Financial Group by 319.3% during the third quarter. Bbva Compass Bancshares Inc. now owns 204,438 shares of the bank’s stock valued at $1,576,000 after acquiring an additional 155,681 shares during the last quarter. Wright Investors Service Inc. lifted its position in Sumitomo Mitsui Financial Group by 34.6% during the third quarter. Wright Investors Service Inc. now owns 41,909 shares of the bank’s stock valued at $323,000 after acquiring an additional 10,779 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in Sumitomo Mitsui Financial Group during the third quarter valued at approximately $14,663,000. Hedge funds and other institutional investors own 2.27% of the company’s stock.

Sumitomo Mitsui Financial Group Company Profile

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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