Sumitomo Mitsui Financial Group's (SMFG) Hold (C+) Rating Reaffirmed at Weiss Ratings

Key Points

• Sumitomo Mitsui Financial Group's stock rating was reaffirmed as "Hold (C+)" by Weiss Ratings, reflecting a cautious outlook on the company's performance.
• The company's quarterly earnings report exceeded analyst expectations, with an EPS of $0.40 against a consensus estimate of $0.31, indicating strong financial performance.
• Institutional investors have shown increased interest, with significant share acquisitions by firms like Fisher Asset Management and Orion Portfolio Solutions boosting their stakes in SMFG.

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

SMFG has been the topic of several other research reports. Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Zacks Research upgraded shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 5th. Finally, Nomura Securities upgraded shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research report on Thursday, July 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy".

Sumitomo Mitsui Financial Group Price Performance

NYSE:SMFG opened at $16.01 on Friday. Sumitomo Mitsui Financial Group has a one year low of $11.83 and a one year high of $17.46. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $102.95 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 0.77 and a beta of 0.37. The firm's fifty day moving average is $16.44 and its two-hundred day moving average is $15.35.

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

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

A number of institutional investors and hedge funds have recently bought and sold shares of SMFG. Fisher Asset Management LLC boosted its position in Sumitomo Mitsui Financial Group by 137.4% during the second quarter. Fisher Asset Management LLC now owns 1,357,193 shares of the bank's stock worth $20,507,000 after acquiring an additional 785,443 shares during the last quarter. Orion Porfolio Solutions LLC boosted its position in Sumitomo Mitsui Financial Group by 606.2% during the second quarter. Orion Porfolio Solutions LLC now owns 709,707 shares of the bank's stock worth $10,724,000 after acquiring an additional 609,212 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in Sumitomo Mitsui Financial Group during the second quarter worth about $8,188,000. Natixis Advisors LLC boosted its position in Sumitomo Mitsui Financial Group by 59.8% during the first quarter. Natixis Advisors LLC now owns 1,439,197 shares of the bank's stock worth $22,250,000 after acquiring an additional 538,823 shares during the last quarter. Finally, Massar Capital Management LP acquired a new position in Sumitomo Mitsui Financial Group during the second quarter worth about $7,555,000. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Company Profile

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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