Macquarie upgraded shares of Sumitomo Mitsui Financial Group Inc. (NYSE:SMFG) from a neutral rating to an outperform rating in a research report released on Tuesday.

Separately, Zacks Investment Research downgraded shares of Sumitomo Mitsui Financial Group from a buy rating to a hold rating in a research report on Wednesday, August 24th.

Sumitomo Mitsui Financial Group (NYSE:SMFG) traded down 0.487% during midday trading on Tuesday, reaching $7.553. The company had a trading volume of 143,466 shares. The stock has a market capitalization of $51.63 billion, a PE ratio of 9.102 and a beta of 1.40. The firm’s 50 day moving average is $6.85 and its 200 day moving average is $6.47. Sumitomo Mitsui Financial Group has a 1-year low of $5.01 and a 1-year high of $7.89.

Hedge funds have recently added to or reduced their stakes in the company. CIBC World Markets Inc. increased its stake in Sumitomo Mitsui Financial Group by 0.9% in the third quarter. CIBC World Markets Inc. now owns 21,739 shares of the company’s stock worth $147,000 after buying an additional 185 shares during the period. M&T Bank Corp increased its stake in Sumitomo Mitsui Financial Group by 0.7% in the third quarter. M&T Bank Corp now owns 62,309 shares of the company’s stock worth $422,000 after buying an additional 440 shares during the period. Nuveen Fund Advisors LLC increased its stake in Sumitomo Mitsui Financial Group by 3.5% in the third quarter. Nuveen Fund Advisors LLC now owns 22,729 shares of the company’s stock worth $153,000 after buying an additional 767 shares during the period. LPL Financial LLC increased its stake in Sumitomo Mitsui Financial Group by 3.4% in the third quarter. LPL Financial LLC now owns 52,648 shares of the company’s stock worth $352,000 after buying an additional 1,748 shares during the period. Finally, Sterling Capital Management LLC increased its stake in Sumitomo Mitsui Financial Group by 10.4% in the second quarter. Sterling Capital Management LLC now owns 21,728 shares of the company’s stock worth $124,000 after buying an additional 2,048 shares during the period. Institutional investors own 1.17% of the company’s stock.

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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.

5 Day Chart for NYSE:SMFG

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