Sumitomo Mitsui Financial Group (NYSE:SMFG) Stock Rating Upgraded by Wall Street Zen

Key Points

• Sumitomo Mitsui Financial Group was upgraded from a "sell" to a "hold" rating by Wall Street Zen, while Nomura Securities gave it a "strong-buy" rating, indicating a positive shift in analyst sentiment towards the stock.
• The stock currently trades at approximately $15.08 with a market capitalization of $97.36 billion, showcasing a notable recovery from its 1-year low of $10.74.
• In its last quarterly earnings report, Sumitomo Mitsui Financial Group posted an EPS of $0.40, exceeding the consensus estimate, while reporting a revenue of $16.41 billion.

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

Separately, Nomura Securities upgraded shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research report on Thursday, July 3rd.

Sumitomo Mitsui Financial Group Stock Performance

Shares of NYSE SMFG opened at $15.08 on Friday. The stock's 50-day moving average is $15.13 and its 200 day moving average is $14.83. The stock has a market cap of $97.36 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 0.67 and a beta of 0.41. Sumitomo Mitsui Financial Group has a 1-year low of $10.74 and a 1-year high of $16.74. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.64.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The bank reported $0.40 EPS for the quarter, topping the consensus estimate of $0.31 by $0.09. The firm had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $1,094.67 billion. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.83%. On average, sell-side analysts anticipate that Sumitomo Mitsui Financial Group will post 0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. LPL Financial LLC increased its stake in Sumitomo Mitsui Financial Group by 264.9% in the 4th quarter. LPL Financial LLC now owns 324,992 shares of the bank's stock worth $4,709,000 after purchasing an additional 235,934 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth about $2,009,000. World Investment Advisors increased its position in shares of Sumitomo Mitsui Financial Group by 27.9% during the fourth quarter. World Investment Advisors now owns 14,169 shares of the bank's stock valued at $205,000 after buying an additional 3,090 shares during the period. Pitcairn Co. raised its stake in Sumitomo Mitsui Financial Group by 2.6% in the fourth quarter. Pitcairn Co. now owns 34,133 shares of the bank's stock worth $495,000 after buying an additional 876 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Sumitomo Mitsui Financial Group by 4.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,803,684 shares of the bank's stock worth $26,135,000 after buying an additional 70,946 shares during the period. Institutional investors own 3.85% of the company's stock.

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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