Sumitomo Mitsui Financial Group (NYSE:SMFG) Rating Increased to Hold at Wall Street Zen

Sumitomo Mitsui Financial Group (NYSE:SMFG) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Sumitomo Mitsui Financial Group Stock Down 0.8%

Shares of NYSE:SMFG opened at $15.05 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06. Sumitomo Mitsui Financial Group has a 1 year low of $10.74 and a 1 year high of $16.74. The stock has a market capitalization of $97.40 billion, a P/E ratio of 14.61, a PEG ratio of 2.36 and a beta of 0.40. The stock has a 50-day simple moving average of $14.31 and a 200-day simple moving average of $14.71.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its earnings results on Wednesday, May 21st. The bank reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The firm had revenue of $16.55 billion for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 8.52% and a net margin of 12.61%. Equities analysts forecast that Sumitomo Mitsui Financial Group will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in Sumitomo Mitsui Financial Group by 76.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 576,485 shares of the bank’s stock worth $8,301,000 after acquiring an additional 249,543 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Sumitomo Mitsui Financial Group by 83.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 42,309 shares of the bank’s stock worth $616,000 after acquiring an additional 19,224 shares during the period. Bank of New York Mellon Corp boosted its holdings in Sumitomo Mitsui Financial Group by 139.7% in the 4th quarter. Bank of New York Mellon Corp now owns 745,849 shares of the bank’s stock worth $10,807,000 after acquiring an additional 434,728 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Sumitomo Mitsui Financial Group by 18.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 482,783 shares of the bank’s stock worth $6,996,000 after acquiring an additional 76,862 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $466,000. Hedge funds and other institutional investors own 3.85% of the company’s stock.

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.