Analysts Offer Predictions for Sumitomo Mitsui Financial Group, Inc.’s FY2022 Earnings (NYSE:SMFG)

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFGGet Rating) – Jefferies Financial Group issued their FY2022 earnings estimates for shares of Sumitomo Mitsui Financial Group in a research report issued to clients and investors on Wednesday, April 20th. Jefferies Financial Group analyst H. Ban forecasts that the bank will earn $0.87 per share for the year. Jefferies Financial Group also issued estimates for Sumitomo Mitsui Financial Group’s FY2023 earnings at $0.92 EPS and FY2024 earnings at $1.05 EPS.

Sumitomo Mitsui Financial Group (NYSE:SMFGGet Rating) last issued its quarterly earnings data on Wednesday, February 2nd. The bank reported $0.22 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a net margin of 17.50% and a return on equity of 6.02%. The company had revenue of $9.07 billion for the quarter.

A number of other research firms also recently weighed in on SMFG. Bank of America downgraded shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “neutral” rating in a research note on Monday, April 11th. Zacks Investment Research downgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 14th. Finally, StockNews.com started coverage on shares of Sumitomo Mitsui Financial Group in a report on Thursday, March 31st. They set a “buy” rating for the company.

NYSE:SMFG opened at $6.05 on Monday. The firm has a market cap of $41.57 billion, a price-to-earnings ratio of 6.51, a P/E/G ratio of 0.50 and a beta of 0.77. Sumitomo Mitsui Financial Group has a 52 week low of $6.03 and a 52 week high of $7.74. The firm’s 50-day simple moving average is $6.70 and its 200 day simple moving average is $6.86.

Large investors have recently modified their holdings of the stock. Guggenheim Capital LLC raised its stake in Sumitomo Mitsui Financial Group by 31.1% in the third quarter. Guggenheim Capital LLC now owns 237,077 shares of the bank’s stock valued at $1,662,000 after purchasing an additional 56,217 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 1,054.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 158,384 shares of the bank’s stock valued at $116,000 after purchasing an additional 144,663 shares in the last quarter. Creative Planning boosted its stake in shares of Sumitomo Mitsui Financial Group by 82.6% during the 3rd quarter. Creative Planning now owns 46,834 shares of the bank’s stock valued at $328,000 after purchasing an additional 21,187 shares in the last quarter. Boston Partners lifted its position in Sumitomo Mitsui Financial Group by 21.2% during the 4th quarter. Boston Partners now owns 12,225 shares of the bank’s stock valued at $83,000 after acquiring an additional 2,138 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Sumitomo Mitsui Financial Group by 29.0% during the 3rd quarter. Goldman Sachs Group Inc. now owns 7,853,118 shares of the bank’s stock valued at $55,050,000 after acquiring an additional 1,765,786 shares during the period. 2.98% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Company Profile (Get Rating)

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through four segments: Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit.

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Earnings History and Estimates for Sumitomo Mitsui Financial Group (NYSE:SMFG)

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