Sumitomo Mitsui Financial Group (NYSE:SMFG) Downgraded to “Hold” Rating by Wall Street Zen

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

Several other brokerages also recently commented on SMFG. Zacks Research raised Sumitomo Mitsui Financial Group from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Trading Down 1.7%

Shares of SMFG opened at $19.06 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.03 and a current ratio of 1.03. Sumitomo Mitsui Financial Group has a 52-week low of $11.83 and a 52-week high of $24.33. The firm has a market cap of $121.55 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 0.75 and a beta of 0.34. The business’s fifty day moving average is $21.28 and its 200-day moving average is $18.91.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings data on Friday, January 30th. The bank reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.24). The business had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $7.93 billion. Sumitomo Mitsui Financial Group had a return on equity of 9.38% and a net margin of 13.81%. Equities analysts anticipate that Sumitomo Mitsui Financial Group will post 0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Several hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. grew its position in Sumitomo Mitsui Financial Group by 22.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 66,425 shares of the bank’s stock worth $1,284,000 after acquiring an additional 12,221 shares during the last quarter. Fund Advisors of America Inc FL bought a new position in Sumitomo Mitsui Financial Group in the fourth quarter valued at about $321,000. World Investment Advisors bought a new position in Sumitomo Mitsui Financial Group in the fourth quarter valued at about $264,000. Corient Private Wealth LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 1.8% during the fourth quarter. Corient Private Wealth LLC now owns 95,566 shares of the bank’s stock valued at $1,847,000 after purchasing an additional 1,716 shares in the last quarter. Finally, Bayban acquired a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 3.85% of the company’s stock.

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.