Sumitomo Mitsui Financial Group (NYSE:SMFG) Upgraded at Zacks Research

Zacks Research upgraded shares of Sumitomo Mitsui Financial Group (NYSE:SMFG) from a hold rating to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings upgraded shares of Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, Sumitomo Mitsui Financial Group has an average rating of “Strong Buy”.

Sumitomo Mitsui Financial Group Stock Performance

SMFG opened at $25.89 on Tuesday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.06 and a current ratio of 1.06. Sumitomo Mitsui Financial Group has a 52-week low of $14.92 and a 52-week high of $26.67. The firm has a market cap of $165.19 billion, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 1.00 and a beta of 0.42. The business’s fifty day moving average is $24.06 and its 200-day moving average is $22.13.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings results on Tuesday, March 31st. The bank reported $0.18 EPS for the quarter. The business had revenue of $7.31 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.19% and a net margin of 15.68%. Sell-side analysts expect that Sumitomo Mitsui Financial Group will post 1.86 EPS for the current fiscal year.

Institutional Trading of Sumitomo Mitsui Financial Group

Several institutional investors and hedge funds have recently modified their holdings of the business. PFS Partners LLC bought a new position in Sumitomo Mitsui Financial Group in the fourth quarter valued at about $27,000. Ascentis Independent Advisors acquired a new position in Sumitomo Mitsui Financial Group during the first quarter worth about $27,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Sumitomo Mitsui Financial Group in the third quarter worth about $29,000. Sound Income Strategies LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 76.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock worth $30,000 after acquiring an additional 610 shares during the last quarter. Finally, Bayban acquired a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter valued at approximately $30,000. 3.85% of the stock is currently owned by institutional investors.

About Sumitomo Mitsui Financial Group

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.