Sumitomo Mitsui Financial Group (NYSE:SMFG) Raised to “Buy” at Wall Street Zen

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

Other analysts have also issued reports about the stock. Zacks Research lowered shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Sumitomo Mitsui Financial Group Stock Performance

NYSE:SMFG opened at $23.80 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 fifty-two week low of $11.83 and a fifty-two week high of $24.33. The firm has a market cap of $152.55 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 0.92 and a beta of 0.36. The business has a 50 day moving average price of $20.51 and a 200-day moving average price of $17.92.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings results on Friday, January 30th. The bank reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.24). The firm had revenue of $17.71 billion for the quarter, compared to the consensus estimate of $7.93 billion. Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. Equities research analysts predict that Sumitomo Mitsui Financial Group will post 0.39 earnings per share for the current year.

Institutional Trading of Sumitomo Mitsui Financial Group

Several large investors have recently bought and sold shares of the company. Jane Street Group LLC raised its position in shares of Sumitomo Mitsui Financial Group by 1,246.6% in the 4th quarter. Jane Street Group LLC now owns 1,318,753 shares of the bank’s stock worth $25,491,000 after acquiring an additional 1,220,821 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in Sumitomo Mitsui Financial Group in the third quarter worth $14,018,000. Fisher Asset Management LLC grew its stake in Sumitomo Mitsui Financial Group by 137.4% in the second quarter. Fisher Asset Management LLC now owns 1,357,193 shares of the bank’s stock worth $20,507,000 after purchasing an additional 785,443 shares during the period. Orion Porfolio Solutions LLC raised its holdings in Sumitomo Mitsui Financial Group by 606.2% in the second quarter. Orion Porfolio Solutions LLC now owns 709,707 shares of the bank’s stock worth $10,724,000 after purchasing an additional 609,212 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Sumitomo Mitsui Financial Group during the second quarter valued at $8,188,000. 3.85% of the stock is owned by institutional investors.

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.