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

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

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, March 21st.

Sumitomo Mitsui Financial Group Stock Performance

The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94. The stock has a market cap of $105.07 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 2.36 and a beta of 0.59. The stock’s 50 day moving average is $15.27 and its two-hundred day moving average is $14.22.

Institutional Trading of Sumitomo Mitsui Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMFG. Park Square Financial Group LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter worth $34,000. Jefferies Financial Group Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 7.6% during the 4th quarter. Jefferies Financial Group Inc. now owns 18,311 shares of the bank’s stock worth $265,000 after purchasing an additional 1,290 shares during the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at $25,000. Forum Financial Management LP increased its position in Sumitomo Mitsui Financial Group by 15.0% during the fourth quarter. Forum Financial Management LP now owns 222,120 shares of the bank’s stock worth $3,219,000 after purchasing an additional 28,997 shares during the last quarter. Finally, Parr Mcknight Wealth Management Group LLC purchased a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth $3,508,000. 3.85% of the stock is owned by hedge funds and other institutional investors.

About Sumitomo Mitsui Financial Group

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.