Zacks Investment Research upgraded shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) from a hold rating to a buy rating in a report published on Friday. The brokerage currently has $8.25 target price on the bank’s stock.

According to Zacks, “SUMITOMO MITSUI FINANCIAL GROUP, INC., is a financial holding company established through a share transfer from Sumitomo Mitsui Banking Corporation. As a holding company, SMFG has functions such as strategic planning, management, resource allocation, strategic planning of information systems, financial management, investor relations, risk management, human resource management for group executives, and business auditing of the group as a whole. Sumitomo Mitsui Card Company, Limited, SMBC Leasing Company, Limited, SMBC Friend Securities and The Japan Research Institute are wholly-owned subsidiaries of SMFG. “

Other equities research analysts also recently issued research reports about the stock. UBS AG upgraded shares of Sumitomo Mitsui Financial Group from a neutral rating to a buy rating in a research note on Wednesday, June 21st. ValuEngine downgraded shares of Sumitomo Mitsui Financial Group from a strong-buy rating to a buy rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded shares of Sumitomo Mitsui Financial Group from a sell rating to a hold rating in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $8.25.

Sumitomo Mitsui Financial Group (NYSE:SMFG) traded up 0.40% during mid-day trading on Friday, reaching $7.51. 622,868 shares of the company traded hands. Sumitomo Mitsui Financial Group has a 52-week low of $6.39 and a 52-week high of $8.30. The stock has a 50 day moving average price of $7.59 and a 200-day moving average price of $7.55. The company has a market capitalization of $52.95 billion, a P/E ratio of 8.28 and a beta of 1.32.

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

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A number of institutional investors and hedge funds have recently bought and sold shares of SMFG. Bank of Montreal Can boosted its stake in Sumitomo Mitsui Financial Group by 4.9% during the first quarter. Bank of Montreal Can now owns 126,646 shares of the bank’s stock worth $919,000 after buying an additional 5,862 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Sumitomo Mitsui Financial Group by 5.0% during the first quarter. Janney Montgomery Scott LLC now owns 44,568 shares of the bank’s stock worth $323,000 after buying an additional 2,117 shares in the last quarter. Conning Inc. acquired a new stake in Sumitomo Mitsui Financial Group during the first quarter worth $302,000. HPM Partners LLC acquired a new stake in Sumitomo Mitsui Financial Group during the first quarter worth $282,000. Finally, US Bancorp DE boosted its stake in Sumitomo Mitsui Financial Group by 17.6% during the first quarter. US Bancorp DE now owns 402,716 shares of the bank’s stock worth $2,920,000 after buying an additional 60,261 shares in the last quarter. Hedge funds and other 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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