Sumitomo Mitsui Financial Group (NYSE:SMFG) Cut to Sell at Wall Street Zen

Sumitomo Mitsui Financial Group (NYSE:SMFGGet Free Report) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Friday.

Sumitomo Mitsui Financial Group Stock Performance

NYSE:SMFG opened at $15.22 on Friday. The firm has a market cap of $98.50 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 0.67 and a beta of 0.40. Sumitomo Mitsui Financial Group has a fifty-two week low of $10.74 and a fifty-two week high of $16.74. The business has a 50 day moving average price of $14.67 and a 200-day moving average price of $14.72.

Sumitomo Mitsui Financial Group (NYSE:SMFGGet Free Report) last announced its earnings results on Wednesday, May 21st. The bank reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The business had revenue of $16.55 billion for the quarter. Sumitomo Mitsui Financial Group had a net margin of 11.57% and a return on equity of 7.96%. Research analysts predict that Sumitomo Mitsui Financial Group will post 0.39 EPS for the current year.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SMFG. Capital A Wealth Management LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at approximately $25,000. Bessemer Group Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 138.1% during the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank’s stock valued at $28,000 after acquiring an additional 1,119 shares in the last quarter. Park Square Financial Group LLC bought a new position in Sumitomo Mitsui Financial Group in the fourth quarter worth $34,000. Private Trust Co. NA raised its holdings in Sumitomo Mitsui Financial Group by 1,044.1% in the first quarter. Private Trust Co. NA now owns 2,334 shares of the bank’s stock worth $36,000 after purchasing an additional 2,130 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its holdings in Sumitomo Mitsui Financial Group by 88.3% in the first quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank’s stock worth $37,000 after purchasing an additional 1,127 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

About Sumitomo Mitsui Financial Group

(Get Free Report)

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.

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