Sumitomo Mitsui Financial Group (NYSE:SMFG) Cut to Sell at Wall Street Zen

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Friday.

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG traded down $0.02 during mid-day trading on Friday, reaching $15.22. 1,980,451 shares of the company's stock traded hands, compared to its average volume of 1,521,996. The stock's 50-day moving average is $14.67 and its two-hundred day moving average is $14.72. The stock has a market cap of $98.50 billion, a P/E ratio of 16.72, a P/E/G ratio of 0.67 and a beta of 0.40. Sumitomo Mitsui Financial Group has a 12 month low of $10.74 and a 12 month high of $16.74.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The bank reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $16.55 billion for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 7.96% and a net margin of 11.57%. Research analysts predict that Sumitomo Mitsui Financial Group will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC increased its holdings in Sumitomo Mitsui Financial Group by 3.8% during the 1st quarter. Lindbrook Capital LLC now owns 20,072 shares of the bank's stock worth $310,000 after purchasing an additional 729 shares during the period. Farther Finance Advisors LLC increased its holdings in Sumitomo Mitsui Financial Group by 7.5% during the 4th quarter. Farther Finance Advisors LLC now owns 10,946 shares of the bank's stock worth $159,000 after purchasing an additional 763 shares during the period. Wedmont Private Capital increased its holdings in Sumitomo Mitsui Financial Group by 4.9% during the 1st quarter. Wedmont Private Capital now owns 17,160 shares of the bank's stock worth $265,000 after purchasing an additional 801 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its position in Sumitomo Mitsui Financial Group by 2.6% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 32,243 shares of the bank's stock valued at $498,000 after acquiring an additional 809 shares in the last quarter. Finally, BSW Wealth Partners boosted its position in Sumitomo Mitsui Financial Group by 4.4% during the 1st quarter. BSW Wealth Partners now owns 19,652 shares of the bank's stock valued at $304,000 after acquiring an additional 837 shares in the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

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.

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