Sumitomo Mitsui Financial Group (NYSE:SMFG) Rating Increased to Hold at Wall Street Zen

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

Sumitomo Mitsui Financial Group Stock Performance

NYSE:SMFG traded down $0.15 during trading hours on Friday, hitting $14.92. 2,020,947 shares of the company's stock traded hands, compared to its average volume of 1,496,961. Sumitomo Mitsui Financial Group has a twelve month low of $10.74 and a twelve month high of $16.74. The stock's fifty day moving average price is $14.39 and its two-hundred day moving average price is $14.72. The firm has a market cap of $96.56 billion, a P/E ratio of 16.39, a P/E/G ratio of 0.66 and a beta of 0.40.

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

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC increased its stake in shares of Sumitomo Mitsui Financial Group by 3.8% in the 1st quarter. Lindbrook Capital LLC now owns 20,072 shares of the bank's stock valued at $310,000 after buying an additional 729 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Sumitomo Mitsui Financial Group by 7.5% in 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 last quarter. Wealthstream Advisors Inc. boosted its position in shares of Sumitomo Mitsui Financial Group by 7.4% in the 4th quarter. Wealthstream Advisors Inc. now owns 11,483 shares of the bank's stock worth $166,000 after purchasing an additional 794 shares during the last quarter. Wedmont Private Capital boosted its position in shares of Sumitomo Mitsui Financial Group by 4.9% in 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 last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its position in shares of Sumitomo Mitsui Financial Group by 2.6% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 32,243 shares of the bank's stock worth $498,000 after purchasing an additional 809 shares during the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

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.