Sumitomo Mitsui Financial Group (NYSE:SMFG) Raised to Hold at Zacks Research

Sumitomo Mitsui Financial Group (NYSE:SMFG) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Wall Street Zen raised Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Stock Performance

Shares of Sumitomo Mitsui Financial Group stock opened at $19.38 on Monday. The firm has a fifty day moving average of $21.45 and a two-hundred day moving average of $18.78. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $123.60 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 0.76 and a beta of 0.34. Sumitomo Mitsui Financial Group has a 52 week low of $11.83 and a 52 week high of $24.33.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings results on Friday, January 30th. The bank reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.24). The firm had revenue of $17.71 billion during the quarter, compared to analyst estimates of $7.93 billion. Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. As a group, equities research analysts predict 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 large investors have recently modified their holdings of SMFG. True Wealth Design LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group in the third quarter valued at about $27,000. PFS Partners LLC acquired a new position in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Sumitomo Mitsui Financial Group during the 3rd quarter worth approximately $29,000. Sound Income Strategies LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after buying an additional 610 shares during the last quarter. Finally, Bayban bought a new position in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at $30,000. 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 (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.