ValuEngine downgraded shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) from a strong-buy rating to a buy rating in a research report sent to investors on Monday morning.

A number of other research analysts have also recently commented on the company. Zacks Investment Research upgraded Sumitomo Mitsui Financial Group from a hold rating to a buy rating and set a $8.25 price objective on the stock in a research note on Saturday. BidaskClub cut Sumitomo Mitsui Financial Group from a sell rating to a strong sell rating in a research note on Monday, July 31st. Finally, UBS AG upgraded Sumitomo Mitsui Financial Group from a neutral rating to a buy rating in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $8.25.

Shares of Sumitomo Mitsui Financial Group (SMFG) opened at 7.39 on Monday. The stock has a market cap of $52.10 billion, a price-to-earnings ratio of 8.20 and a beta of 1.30. The firm has a 50-day moving average price of $7.63 and a 200-day moving average price of $7.57. Sumitomo Mitsui Financial Group has a 1-year low of $6.39 and a 1-year high of $8.30.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its quarterly earnings data on Monday, July 31st. The bank reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.11. The company had revenue of $12.25 billion for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 6.95% and a net margin of 14.43%. Equities analysts forecast that Sumitomo Mitsui Financial Group will post $0.87 EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its position in shares of Sumitomo Mitsui Financial Group by 160.8% in the second quarter. Quadrant Capital Group LLC now owns 28,681 shares of the bank’s stock worth $211,000 after buying an additional 17,685 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Sumitomo Mitsui Financial Group by 415.9% in the second quarter. Royal Bank of Canada now owns 915,456 shares of the bank’s stock worth $7,196,000 after buying an additional 738,007 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Sumitomo Mitsui Financial Group by 11.1% in the second quarter. Goldman Sachs Group Inc. now owns 2,341,869 shares of the bank’s stock worth $18,407,000 after buying an additional 233,386 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of Sumitomo Mitsui Financial Group during the second quarter worth approximately $350,000. Finally, HighTower Advisors LLC boosted its position in shares of Sumitomo Mitsui Financial Group by 132.3% in the second quarter. HighTower Advisors LLC now owns 50,814 shares of the bank’s stock worth $399,000 after buying an additional 28,943 shares in the last quarter. Institutional investors own 2.24% of the company’s stock.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc is a holding company for Sumitomo Mitsui Banking Corporation (the Bank) and its subsidiaries. The Company operates through four segments: Commercial Banking, Leasing, Securities and Consumer Finance. The Company and its subsidiaries offer a range of financial services, including commercial banking, leasing, securities, consumer finance and other services.

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