Sumitomo Mitsui Financial Group (NYSE:SMFG) Raised to "Hold" at Zacks Research

Key Points

• SMFG was upgraded by Zacks Research from a "strong sell" to a "hold," and other firms (e.g., Wall Street Zen) have also raised ratings, leaving a MarketBeat consensus of Moderate Buy.
• The bank reported quarterly EPS of $0.16, missing estimates by $0.24, while reporting $17.71 billion in revenue; the stock trades around $19.38 with a market cap of $123.6 billion and a P/E of 16.15.
• Institutional ownership is relatively low at about 3.85%, though several small new or increased stakes were recently reported.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts also recently commented on SMFG. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a "hold" rating to a "buy" rating in a research note on Saturday, February 14th. Weiss Ratings reissued a "hold (c+)" rating on shares of Sumitomo Mitsui Financial Group in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

Sumitomo Mitsui Financial Group Stock Performance

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

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its earnings results on Friday, January 30th. The bank reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $7.93 billion. As a group, equities analysts forecast that Sumitomo Mitsui Financial Group will post 0.39 earnings per share for the current year.

Institutional Trading of Sumitomo Mitsui Financial Group

Several 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 3rd quarter worth approximately $27,000. PFS Partners LLC bought a new stake in Sumitomo Mitsui Financial Group during the 4th quarter valued at $27,000. Pin Oak Investment Advisors Inc. bought a new stake in Sumitomo Mitsui Financial Group during the 3rd quarter valued at $29,000. Sound Income Strategies LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 76.8% during the fourth 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, Bayban purchased a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter worth $30,000. Institutional investors own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Company Profile

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.

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