Sumitomo Mitsui Financial Group (NYSE:SMFG) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Sumitomo Mitsui Financial Group (NYSE:SMFG) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other brokerages have also commented on SMFG. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Monday, December 29th. Zacks Research cut Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

Sumitomo Mitsui Financial Group Stock Up 0.5%

Shares of SMFG opened at $21.10 on Friday. The firm has a market capitalization of $135.24 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.10 and a beta of 0.36. Sumitomo Mitsui Financial Group has a 12-month low of $11.83 and a 12-month high of $21.54. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 1.65. The firm has a fifty day moving average price of $19.71 and a 200-day moving average price of $17.49.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings results on Friday, January 30th. The bank reported $0.16 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a return on equity of 9.34% and a net margin of 13.81%.The company had revenue of $17.71 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Equities research analysts expect that Sumitomo Mitsui Financial Group will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the business. True Wealth Design LLC bought a new position in Sumitomo Mitsui Financial Group in the third quarter worth approximately $27,000. PFS Partners LLC purchased a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter valued at $27,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Sumitomo Mitsui Financial Group in the 3rd quarter worth $29,000. Sound Income Strategies LLC raised its position in shares of Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock worth $30,000 after acquiring an additional 610 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Sumitomo Mitsui Financial Group by 163.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after purchasing an additional 1,227 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors.

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.