Sumitomo Mitsui Financial Group (NYSE:SMFG) Rating Increased to Hold at Zacks Research

Sumitomo Mitsui Financial Group (NYSE:SMFG) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also recently commented on SMFG. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Monday, December 29th. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Stock Down 1.1%

Shares of NYSE SMFG opened at $19.38 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.63. The company has a market cap of $123.60 billion, a P/E ratio of 16.15, a P/E/G ratio of 0.76 and a beta of 0.34. Sumitomo Mitsui Financial Group has a 52 week low of $11.83 and a 52 week high of $24.33. The business has a 50-day simple moving average of $21.45 and a two-hundred day simple moving average of $18.78.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings results on Friday, January 30th. The bank reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. The company had revenue of $17.71 billion for the quarter, compared to the consensus estimate of $7.93 billion. Research analysts anticipate that Sumitomo Mitsui Financial Group will post 0.39 earnings per share for the current fiscal year.

Institutional Trading of Sumitomo Mitsui Financial Group

A number of large investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. increased its position in shares of Sumitomo Mitsui Financial Group by 22.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 66,425 shares of the bank’s stock worth $1,284,000 after purchasing an additional 12,221 shares during the last quarter. Fund Advisors of America Inc FL bought a new stake in Sumitomo Mitsui Financial Group during the fourth quarter valued at approximately $321,000. World Investment Advisors purchased a new position in Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $264,000. Corient Private Wealth LLC grew its stake in Sumitomo Mitsui Financial Group by 1.8% in the 4th quarter. Corient Private Wealth LLC now owns 95,566 shares of the bank’s stock worth $1,847,000 after buying an additional 1,716 shares in the last quarter. Finally, Bayban bought a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth $30,000. Institutional investors own 3.85% of the company’s stock.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.