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

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

SMFG has been the subject of several other reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Zacks Research upgraded Sumitomo Mitsui Financial Group from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Sumitomo Mitsui Financial Group currently has an average rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Trading Up 0.0%

NYSE:SMFG opened at $19.06 on Friday. The stock has a market cap of $121.55 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 0.74 and a beta of 0.33. Sumitomo Mitsui Financial Group has a fifty-two week low of $11.83 and a fifty-two week high of $24.33. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50-day moving average is $21.28 and its two-hundred day moving average is $18.94.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly 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 return on equity of 9.38% and a net margin of 13.81%. As a group, equities research analysts forecast that Sumitomo Mitsui Financial Group will post 0.39 earnings per share for the current fiscal year.

Institutional Trading of Sumitomo Mitsui Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of SMFG. Bridgewater Advisors Inc. grew its position in Sumitomo Mitsui Financial Group by 2.2% during the fourth quarter. Bridgewater Advisors Inc. now owns 24,656 shares of the bank’s stock worth $513,000 after buying an additional 530 shares in the last quarter. Park Square Financial Group LLC increased its stake in Sumitomo Mitsui Financial Group by 58.0% during the fourth quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock valued at $31,000 after acquiring an additional 598 shares during the period. Sound Income Strategies LLC raised its holdings in Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after acquiring an additional 610 shares in the last quarter. Aprio Wealth Management LLC raised its holdings in Sumitomo Mitsui Financial Group by 3.9% in the 3rd quarter. Aprio Wealth Management LLC now owns 16,517 shares of the bank’s stock valued at $276,000 after acquiring an additional 626 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 27.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,926 shares of the bank’s stock worth $57,000 after acquiring an additional 628 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

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.