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

Zacks Research upgraded shares of Sumitomo Mitsui Financial Group (NYSE:SMFG) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Monday, December 29th. Wall Street Zen raised Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Trading Down 1.1%

Shares of SMFG opened at $19.38 on Monday. 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 $123.60 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 0.76 and a beta of 0.34. The firm has a 50 day moving average price of $21.45 and a 200-day moving average price of $18.78. 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 (NYSE:SMFG) last released its earnings results on Friday, January 30th. The bank reported $0.16 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.24). The business 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%. As a group, equities research analysts forecast 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 modified their holdings of the business. AQR Capital Management LLC raised its position in Sumitomo Mitsui Financial Group by 26.0% during the 1st quarter. AQR Capital Management LLC now owns 177,249 shares of the bank’s stock valued at $2,740,000 after purchasing an additional 36,522 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Sumitomo Mitsui Financial Group by 40.5% during the first quarter. Focus Partners Wealth now owns 18,253 shares of the bank’s stock valued at $282,000 after acquiring an additional 5,258 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Sumitomo Mitsui Financial Group by 41.6% in the first quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock worth $49,000 after acquiring an additional 930 shares during the period. Acadian Asset Management LLC lifted its stake in Sumitomo Mitsui Financial Group by 336.4% in the first quarter. Acadian Asset Management LLC now owns 39,574 shares of the bank’s stock worth $610,000 after acquiring an additional 30,506 shares during the period. Finally, Sivia Capital Partners LLC boosted its holdings in Sumitomo Mitsui Financial Group by 43.9% in the second quarter. Sivia Capital Partners LLC now owns 32,398 shares of the bank’s stock valued at $490,000 after acquiring an additional 9,876 shares in the last quarter. 3.85% of the stock is 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.