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

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

A number of other research firms have also issued reports on SMFG. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Zacks Research downgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sumitomo Mitsui Financial Group currently has an average rating of “Hold”.

Sumitomo Mitsui Financial Group Stock Performance

SMFG opened at $20.99 on Friday. The business has a 50 day moving average price of $19.63 and a two-hundred day moving average price of $17.41. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.04 and a quick ratio of 1.03. The company has a market capitalization of $134.58 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.11 and a beta of 0.36. Sumitomo Mitsui Financial Group has a 1-year low of $11.83 and a 1-year high of $21.54.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its quarterly earnings results on Wednesday, February 4th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a net margin of 13.80% and a return on equity of 9.14%. Research analysts predict that Sumitomo Mitsui Financial Group will post 0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Several hedge funds have recently made changes to their positions in SMFG. True Wealth Design LLC acquired a new position in Sumitomo Mitsui Financial Group in the 3rd quarter worth approximately $27,000. PFS Partners LLC acquired a new stake in Sumitomo Mitsui Financial Group during the 4th quarter valued at $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Sumitomo Mitsui Financial Group in the third quarter valued at $29,000. Sound Income Strategies LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 76.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after purchasing an additional 610 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Sumitomo Mitsui Financial Group by 163.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after buying an additional 1,227 shares during the period. Hedge funds and other institutional investors own 3.85% of the company’s stock.

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.