Wells Fargo & Company MN Cuts Stock Holdings in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Wells Fargo & Company MN cut its stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 36.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,080,805 shares of the bank's stock after selling 1,199,954 shares during the quarter. Wells Fargo & Company MN's holdings in Sumitomo Mitsui Financial Group were worth $30,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new position in shares of Sumitomo Mitsui Financial Group during the 4th quarter valued at $30,000. Richardson Financial Services Inc. boosted its stake in Sumitomo Mitsui Financial Group by 36.8% during the fourth quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank's stock valued at $51,000 after buying an additional 940 shares during the period. Bruce G. Allen Investments LLC grew its position in Sumitomo Mitsui Financial Group by 29.5% during the fourth quarter. Bruce G. Allen Investments LLC now owns 5,445 shares of the bank's stock worth $79,000 after buying an additional 1,239 shares in the last quarter. Sierra Ocean LLC bought a new position in Sumitomo Mitsui Financial Group in the 4th quarter worth about $86,000. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Sumitomo Mitsui Financial Group by 32.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,944 shares of the bank's stock valued at $115,000 after acquiring an additional 1,968 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Friday, March 21st.

Sumitomo Mitsui Financial Group Price Performance

SMFG stock traded up $0.49 during midday trading on Thursday, reaching $13.60. The company had a trading volume of 1,441,624 shares, compared to its average volume of 1,311,048. The firm has a 50-day moving average price of $14.88 and a 200-day moving average price of $14.33. 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 capitalization of $88.02 billion, a P/E ratio of 13.24, a P/E/G ratio of 2.36 and a beta of 0.41. Sumitomo Mitsui Financial Group, Inc. has a 1 year low of $10.74 and a 1 year high of $16.74.

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.