Choate Investment Advisors Takes Position in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Choate Investment Advisors purchased a new stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,797 shares of the bank’s stock, valued at approximately $156,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC raised its position in Sumitomo Mitsui Financial Group by 5.0% in the 3rd quarter. FMR LLC now owns 7,193,840 shares of the bank’s stock worth $90,858,000 after buying an additional 342,604 shares during the last quarter. JPMorgan Chase & Co. raised its position in Sumitomo Mitsui Financial Group by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,369,950 shares of the bank’s stock worth $17,302,000 after buying an additional 517,179 shares during the last quarter. Natixis Advisors LLC raised its position in Sumitomo Mitsui Financial Group by 53.5% in the 4th quarter. Natixis Advisors LLC now owns 900,374 shares of the bank’s stock worth $13,046,000 after buying an additional 313,642 shares during the last quarter. Bank of New York Mellon Corp raised its position in Sumitomo Mitsui Financial Group by 139.7% in the 4th quarter. Bank of New York Mellon Corp now owns 745,849 shares of the bank’s stock worth $10,807,000 after buying an additional 434,728 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Sumitomo Mitsui Financial Group by 76.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 576,485 shares of the bank’s stock worth $8,301,000 after buying an additional 249,543 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a research report on Thursday, March 13th.

Sumitomo Mitsui Financial Group Price Performance

NYSE SMFG opened at $16.04 on Tuesday. Sumitomo Mitsui Financial Group, Inc. has a 52 week low of $10.74 and a 52 week high of $16.08. The firm has a market capitalization of $103.81 billion, a P/E ratio of 15.57, a PEG ratio of 2.36 and a beta of 0.59. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.94. The company has a 50-day moving average price of $15.05 and a 200-day moving average price of $14.08.

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.