Sumitomo Mitsui Financial Group (NYSE:SMFG) Trading Down 1.9% – Here’s What Happened

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s share price fell 1.9% during mid-day trading on Monday . The company traded as low as $16.37 and last traded at $16.40. 431,200 shares were traded during mid-day trading, a decline of 64% from the average session volume of 1,182,166 shares. The stock had previously closed at $16.72.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research note on Friday.

Sumitomo Mitsui Financial Group Stock Down 1.6 %

The company has a 50 day moving average of $15.19 and a 200-day moving average of $14.17. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05. The company has a market cap of $106.50 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 2.36 and a beta of 0.59.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 12.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,921 shares of the bank’s stock valued at $5,127,000 after buying an additional 45,761 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Sumitomo Mitsui Financial Group by 76.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 576,485 shares of the bank’s stock valued at $8,301,000 after acquiring an additional 249,543 shares during the last quarter. Capital Insight Partners LLC raised its position in Sumitomo Mitsui Financial Group by 59.9% during the fourth quarter. Capital Insight Partners LLC now owns 49,157 shares of the bank’s stock valued at $712,000 after purchasing an additional 18,415 shares in the last quarter. Cerity Partners LLC lifted its stake in Sumitomo Mitsui Financial Group by 31.7% during the third quarter. Cerity Partners LLC now owns 353,043 shares of the bank’s stock worth $4,459,000 after purchasing an additional 84,989 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group by 83.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 42,309 shares of the bank’s stock worth $616,000 after purchasing an additional 19,224 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.