Sumitomo Mitsui Financial Grp (SMFG) Rating Lowered to Buy at ValuEngine

Sumitomo Mitsui Financial Grp (NYSE:SMFG) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

Several other brokerages also recently issued reports on SMFG. Zacks Investment Research upgraded shares of Sumitomo Mitsui Financial Grp from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 2nd. BidaskClub raised shares of Sumitomo Mitsui Financial Grp from a “strong sell” rating to a “sell” rating in a report on Friday, October 27th.

Shares of Sumitomo Mitsui Financial Grp (SMFG) traded up $0.08 during midday trading on Thursday, hitting $8.75. 2,326,572 shares of the stock traded hands, compared to its average volume of 1,331,402. The company has a market capitalization of $61,864.91, a P/E ratio of 8.41 and a beta of 1.30. Sumitomo Mitsui Financial Grp has a 52-week low of $6.93 and a 52-week high of $9.67. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.94.

Sumitomo Mitsui Financial Grp (NYSE:SMFG) last issued its earnings results on Tuesday, November 14th. The bank reported $0.23 earnings per share (EPS) for the quarter. The firm had revenue of $12.50 billion for the quarter. Sumitomo Mitsui Financial Grp had a net margin of 14.38% and a return on equity of 7.28%. equities research analysts forecast that Sumitomo Mitsui Financial Grp will post 0.93 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. raised its holdings in shares of Sumitomo Mitsui Financial Grp by 15.2% during the third quarter. Advisor Group Inc. now owns 52,990 shares of the bank’s stock valued at $409,000 after purchasing an additional 7,003 shares during the last quarter. River Road Asset Management LLC raised its holdings in shares of Sumitomo Mitsui Financial Grp by 31.5% during the third quarter. River Road Asset Management LLC now owns 29,582 shares of the bank’s stock valued at $228,000 after purchasing an additional 7,090 shares during the last quarter. First Republic Investment Management Inc. raised its holdings in shares of Sumitomo Mitsui Financial Grp by 5.7% during the fourth quarter. First Republic Investment Management Inc. now owns 135,777 shares of the bank’s stock valued at $1,180,000 after purchasing an additional 7,329 shares during the last quarter. Advisor Partners LLC raised its holdings in shares of Sumitomo Mitsui Financial Grp by 38.3% during the third quarter. Advisor Partners LLC now owns 26,769 shares of the bank’s stock valued at $206,000 after purchasing an additional 7,414 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its holdings in shares of Sumitomo Mitsui Financial Grp by 16.5% during the third quarter. Eagle Asset Management Inc. now owns 52,676 shares of the bank’s stock valued at $405,000 after purchasing an additional 7,478 shares during the last quarter. 2.47% of the stock is owned by hedge funds and other institutional investors.

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About Sumitomo Mitsui Financial Grp

Sumitomo Mitsui Financial Group, Inc is a holding company for Sumitomo Mitsui Banking Corporation (the Bank) and its subsidiaries. The Company operates through four segments: Commercial Banking, Leasing, Securities and Consumer Finance. The Company and its subsidiaries offer a range of financial services, including commercial banking, leasing, securities, consumer finance and other services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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