Sumitomo Mitsui Financial Group (NYSE:SMFG) Stock Rating Lowered by Zacks Research

Sumitomo Mitsui Financial Group (NYSE:SMFG) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday, Zacks reports.

Separately, Weiss Ratings downgraded Sumitomo Mitsui Financial Group from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, September 28th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Sumitomo Mitsui Financial Group Price Performance

NYSE SMFG opened at $25.43 on Tuesday. The stock has a market capitalization of $161.07 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.69 and a beta of 0.44. Sumitomo Mitsui Financial Group has a 1-year low of $15.18 and a 1-year high of $27.61. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.05 and a quick ratio of 1.05. The business’s fifty day moving average price is $25.97 and its 200-day moving average price is $23.90.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its quarterly earnings data on Tuesday, June 30th. The bank reported $0.49 EPS for the quarter. The company had revenue of $8.71 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.65% and a net margin of 16.24%. On average, equities analysts predict that Sumitomo Mitsui Financial Group will post 0.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Kazuyuki Anchi sold 4,000 shares of Sumitomo Mitsui Financial Group stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $42.47, for a total transaction of $169,880.00. Following the transaction, the chief financial officer owned 48,857 shares in the company, valued at $2,074,956.79. This trade represents a 7.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Hedge funds have recently modified their holdings of the business. Modern Wealth Management LLC grew its holdings in Sumitomo Mitsui Financial Group by 3.1% during the 1st quarter. Modern Wealth Management LLC now owns 16,042 shares of the bank’s stock worth $332,000 after acquiring an additional 482 shares in the last quarter. Traveka Wealth LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 2.3% in the 1st quarter. Traveka Wealth LLC now owns 26,726 shares of the bank’s stock valued at $528,000 after purchasing an additional 613 shares in the last quarter. Bridgewater Advisors Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 2.5% in the 1st quarter. Bridgewater Advisors Inc. now owns 25,274 shares of the bank’s stock valued at $499,000 after purchasing an additional 618 shares in the last quarter. Anchyra Partners LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 4.5% in the 1st quarter. Anchyra Partners LLC now owns 14,329 shares of the bank’s stock worth $283,000 after purchasing an additional 620 shares during the period. Finally, Greenspring Advisors LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 3.8% in the 2nd quarter. Greenspring Advisors LLC now owns 17,783 shares of the bank’s stock worth $419,000 after purchasing an additional 656 shares during the period. Institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc (NYSE:SMFG) is a Japan-based financial services holding company headquartered in Tokyo. Through its subsidiaries, the group provides commercial and investment banking, financial advisory, payments, asset management, leasing, consumer finance and other related services to individuals, businesses, financial institutions and governments.

Its principal banking subsidiary is Sumitomo Mitsui Banking Corporation, which offers deposits, lending, foreign exchange, trade finance, capital markets services and wealth management.