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

Wells Fargo & Company MN reduced its holdings in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 36.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,080,805 shares of the bank’s stock after selling 1,199,954 shares during the period. Wells Fargo & Company MN’s holdings in Sumitomo Mitsui Financial Group were worth $30,151,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc purchased a new position in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at approximately $30,000. Richardson Financial Services Inc. increased its position in Sumitomo Mitsui Financial Group by 36.8% during the 4th 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 in the last quarter. Bruce G. Allen Investments LLC raised its stake 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 valued at $79,000 after buying an additional 1,239 shares during the last quarter. Sierra Ocean LLC purchased a new position in Sumitomo Mitsui Financial Group during the fourth quarter valued at $86,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Sumitomo Mitsui Financial Group by 32.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 7,944 shares of the bank’s stock worth $115,000 after acquiring an additional 1,968 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sumitomo Mitsui Financial Group Stock Up 3.6 %

Shares of Sumitomo Mitsui Financial Group stock opened at $12.91 on Friday. The company has a 50-day simple moving average of $14.98 and a two-hundred day simple moving average of $14.32. The stock has a market capitalization of $83.55 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 2.36 and a beta of 0.41. Sumitomo Mitsui Financial Group, Inc. has a 52-week low of $10.74 and a 52-week high of $16.74. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06.

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.