Sumitomo Mitsui Financial Grp (NYSE:SMFG) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a research note issued on Saturday, Zacks.com reports.
According to Zacks, "SUMITOMO MITSUI FINANCIAL GROUP, INC., is a financial holding company established through a share transfer from Sumitomo Mitsui Banking Corporation. As a holding company, SMFG has functions such as strategic planning, management, resource allocation, strategic planning of information systems, financial management, investor relations, risk management, human resource management for group executives, and business auditing of the group as a whole. Sumitomo Mitsui Card Company, Limited, SMBC Leasing Company, Limited, SMBC Friend Securities and The Japan Research Institute are wholly-owned subsidiaries of SMFG. "
SMFG has been the subject of several other reports. Goldman Sachs Group lowered shares of Sumitomo Mitsui Financial Grp from a "buy" rating to a "neutral" rating in a report on Wednesday, July 8th. ValuEngine lowered shares of Sumitomo Mitsui Financial Grp from a "sell" rating to a "strong sell" rating in a report on Friday, May 1st. Finally, Daiwa Capital Markets raised shares of Sumitomo Mitsui Financial Grp from a "neutral" rating to an "outperform" rating in a report on Friday, June 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of "Hold" and an average price target of $6.50.
Sumitomo Mitsui Financial Grp stock opened at $5.35 on Friday. The firm has a 50 day moving average of $5.72 and a 200 day moving average of $5.83. The firm has a market capitalization of $37.49 billion, a price-to-earnings ratio of 6.86, a P/E/G ratio of 3.37 and a beta of 1.20. Sumitomo Mitsui Financial Grp has a 12-month low of $4.49 and a 12-month high of $7.56. The company has a current ratio of 1.05, a quick ratio of 1.10 and a debt-to-equity ratio of 2.46.
Sumitomo Mitsui Financial Grp (NYSE:SMFG) last released its earnings results on Friday, May 15th. The bank reported $0.21 earnings per share (EPS) for the quarter. The company had revenue of $11.87 billion during the quarter. Sumitomo Mitsui Financial Grp had a net margin of 11.61% and a return on equity of 5.75%. On average, analysts predict that Sumitomo Mitsui Financial Grp will post 0.74 EPS for the current year.
Hedge funds have recently bought and sold shares of the business. Ellevest Inc. boosted its stake in Sumitomo Mitsui Financial Grp by 74.9% in the 1st quarter. Ellevest Inc. now owns 7,901 shares of the bank's stock worth $38,000 after purchasing an additional 3,383 shares during the period. IHT Wealth Management LLC bought a new position in Sumitomo Mitsui Financial Grp in the 1st quarter worth approximately $48,000. FDx Advisors Inc. boosted its stake in Sumitomo Mitsui Financial Grp by 26.0% in the 2nd quarter. FDx Advisors Inc. now owns 10,240 shares of the bank's stock worth $58,000 after purchasing an additional 2,116 shares during the period. 180 Wealth Advisors LLC bought a new position in Sumitomo Mitsui Financial Grp in the 1st quarter worth approximately $63,000. Finally, Hancock Whitney Corp bought a new position in Sumitomo Mitsui Financial Grp in the 2nd quarter worth approximately $66,000. Institutional investors and hedge funds own 1.96% of the company's stock.
About Sumitomo Mitsui Financial Grp
Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services primarily in Japan. It operates through four segments: Wholesale Business, Retail Business, International Business, and Global Markets Business.
Recommended Story: Day Trading
Get a free copy of the Zacks research report on Sumitomo Mitsui Financial Grp (SMFG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Best Growth Stocks - Best Stocks to Buy Now
The stock market has been growing since the New York Stock Exchange opened its doors in 1817. Sometimes, a stock will outpace the rest of the market in terms of growth. These skyrocketing securities—or the ones that analysts expect to skyrocket—are called growth stocks.
What Every Investor Needs to Know About Growth Stocks
Growth stocks are a great opportunity for an investor to make money in the stock market, but you’ve got to know what you’re going to buy or sell. A good understanding of growth stocks will help you get there.
At the beginning of a bull market, you can almost choose stocks randomly and find yourself a winner. Now that we are entering the ninth year of the current bull market, growth stocks have appreciated considerably and it's becoming far more challenging to find stocks with real opportunities for appreciation.
Growth companies are still largely outperforming their value counterparts in the United States and the rest of the world largely because of low interest rates, improved corporate earnings and global economic growth. Over the last five years, the S&P 500 Growth Index has returned 14.22% per year. During the same time, the S&P 500 Value Index returned just 12.94%.
Now that the bull market is now nearly a decade old, stocks have become very expensive. Value investors are largely sitting on the sidelines and growth investors are having a hard time figuring out where the remaining growth opportunities exist.
If you are looking for growth stocks in an increasingly small field, we have identified the 10 best growth stocks to buy right now based on their expected earnings growth over the next several years. These companies are all growing rapidly and will likely see double-digit earnings growth next year.
View the "Best Growth Stocks - Best Stocks to Buy Now".