Sumitomo Mitsui Financial Group (NYSE:SMFG) Receives Hold (C+) Rating from Weiss Ratings

Key Points

• Sumitomo Mitsui Financial Group's (NYSE:SMFG) stock has been reaffirmed with a "hold (C+)" rating by Weiss Ratings, while other analysts have issued varying upgrades, resulting in a consensus rating of "Buy."
• The company's stock recently traded at $16.24, reflecting a 1.0% increase, and has a market cap of $104.41 billion with a PE ratio of 17.09.
• Sumitomo Mitsui Financial Group reported $0.40 earnings per share for the last quarter, surpassing estimates, and showed significant institutional buying activity, with several firms boosting their stakes considerably.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Zacks Research upgraded Sumitomo Mitsui Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Finally, Nomura Securities upgraded Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research report on Thursday, July 3rd. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy".

Sumitomo Mitsui Financial Group Stock Up 1.0%

Shares of NYSE SMFG traded up $0.16 during trading on Wednesday, reaching $16.24. The company had a trading volume of 2,367,960 shares, compared to its average volume of 1,650,706. Sumitomo Mitsui Financial Group has a 12-month low of $11.83 and a 12-month high of $17.46. The stock has a market cap of $104.41 billion, a PE ratio of 17.09, a P/E/G ratio of 0.78 and a beta of 0.37. The business's 50-day moving average is $16.44 and its 200 day moving average is $15.26. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.75.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its earnings results on Thursday, July 31st. The bank reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%.The company had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $1,094.67 billion. As a group, equities analysts forecast that Sumitomo Mitsui Financial Group will post 0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its position in Sumitomo Mitsui Financial Group by 163.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank's stock worth $30,000 after purchasing an additional 1,227 shares during the period. NewSquare Capital LLC lifted its holdings in Sumitomo Mitsui Financial Group by 204.7% in the second quarter. NewSquare Capital LLC now owns 2,029 shares of the bank's stock worth $31,000 after acquiring an additional 1,363 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group in the second quarter valued at approximately $34,000. Private Trust Co. NA lifted its holdings in Sumitomo Mitsui Financial Group by 1,044.1% in the first quarter. Private Trust Co. NA now owns 2,334 shares of the bank's stock worth $36,000 after purchasing an additional 2,130 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Sumitomo Mitsui Financial Group during the second quarter valued at approximately $39,000. 3.85% of the stock is currently 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.

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