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

Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group (NYSE:SMFG) from a buy rating to a hold rating in a report issued on Saturday morning.

Other analysts also recently issued reports about the company. Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Monday, December 29th. Zacks Research upgraded Sumitomo Mitsui Financial Group from a “strong sell” rating to a “hold” rating in a research report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Sumitomo Mitsui Financial Group currently has an average 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 current ratio of 1.03 and a quick ratio of 1.03. Sumitomo Mitsui Financial Group has a 1-year low of $11.83 and a 1-year high of $24.33. The stock has a market cap of $121.55 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 0.74 and a beta of 0.34. The firm has a 50 day simple moving average of $21.28 and a 200-day simple moving average of $18.93.

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

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Several large investors have recently added to or reduced their stakes in the business. True Wealth Design LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the 3rd quarter worth about $27,000. PFS Partners LLC purchased a new stake in Sumitomo Mitsui Financial Group in the fourth quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. acquired a new position in Sumitomo Mitsui Financial Group during the third quarter worth approximately $29,000. Sound Income Strategies LLC increased its position in Sumitomo Mitsui Financial Group by 76.8% during the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock worth $30,000 after purchasing an additional 610 shares during the last quarter. Finally, Bayban purchased a new position in Sumitomo Mitsui Financial Group during the fourth quarter worth approximately $30,000. 3.85% of the stock is currently owned by hedge funds and other 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.