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

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

Other analysts have also recently issued reports about the company. Zacks Research cut Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Sumitomo Mitsui Financial Group Trading Down 1.4%

Sumitomo Mitsui Financial Group stock opened at $20.99 on Friday. Sumitomo Mitsui Financial Group has a 1 year low of $11.83 and a 1 year high of $21.54. The firm’s 50-day moving average is $19.63 and its 200-day moving average is $17.41. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.03 and a current ratio of 1.04. The company has a market cap of $134.58 billion, a P/E ratio of 17.79, a PEG ratio of 1.11 and a beta of 0.36.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings data on Wednesday, February 4th. The bank reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a return on equity of 9.14% and a net margin of 13.80%. On average, equities analysts expect that Sumitomo Mitsui Financial Group will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new position in shares of Sumitomo Mitsui Financial Group during the third quarter valued at $27,000. PFS Partners LLC acquired a new stake in Sumitomo Mitsui Financial Group in the fourth quarter worth about $27,000. Pin Oak Investment Advisors Inc. bought a new position in Sumitomo Mitsui Financial Group in the 3rd quarter valued at about $29,000. Sound Income Strategies LLC grew its position in 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Sumitomo Mitsui Financial Group by 163.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock valued at $30,000 after buying an additional 1,227 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.

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.