Wall Street Zen Upgrades Sumitomo Mitsui Financial Group (NYSE:SMFG) to “Buy”

Sumitomo Mitsui Financial Group (NYSE:SMFG) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

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

Sumitomo Mitsui Financial Group Price Performance

SMFG stock opened at $23.80 on Friday. The business’s 50-day moving average is $20.51 and its two-hundred day moving average is $17.96. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $152.55 billion, a P/E ratio of 19.83, a P/E/G ratio of 0.92 and a beta of 0.36. Sumitomo Mitsui Financial Group has a 1 year low of $11.83 and a 1 year high of $24.33.

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

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the third quarter worth about $27,000. PFS Partners LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Sumitomo Mitsui Financial Group during the third quarter worth approximately $29,000. Sound Income Strategies LLC increased its holdings 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 valued at $30,000 after acquiring an additional 610 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Sumitomo Mitsui Financial Group by 163.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,227 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

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.