Sumitomo Mitsui Financial Group (SMFG) Rating Lowered to Hold at Zacks Investment Research

Sumitomo Mitsui Financial Group (NYSE:SMFG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “SUMITOMO MITSUI FINANCIAL GROUP, INC., is a financial holding company established through a share transfer from Sumitomo Mitsui Banking Corporation. As a holding company, SMFG has functions such as strategic planning, management, resource allocation, strategic planning of information systems, financial management, investor relations, risk management, human resource management for group executives, and business auditing of the group as a whole. Sumitomo Mitsui Card Company, Limited, SMBC Leasing Company, Limited, SMBC Friend Securities and The Japan Research Institute are wholly-owned subsidiaries of SMFG. “

Separately, ValuEngine cut shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 2nd.



SMFG opened at $8.47 on Wednesday. The stock has a market capitalization of $59,602.42, a price-to-earnings ratio of 8.56 and a beta of 1.29. Sumitomo Mitsui Financial Group has a twelve month low of $6.93 and a twelve month high of $9.67.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Wednesday, January 31st. The bank reported $0.30 earnings per share for the quarter. The firm had revenue of $13.43 billion for the quarter. Sumitomo Mitsui Financial Group had a net margin of 14.38% and a return on equity of 7.28%. equities research analysts anticipate that Sumitomo Mitsui Financial Group will post 0.93 EPS for the current year.

Several hedge funds have recently made changes to their positions in SMFG. Fisher Asset Management LLC lifted its stake in shares of Sumitomo Mitsui Financial Group by 4.2% during the 4th quarter. Fisher Asset Management LLC now owns 52,946,471 shares of the bank’s stock valued at $460,105,000 after buying an additional 2,152,355 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Sumitomo Mitsui Financial Group during the 4th quarter valued at approximately $11,170,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Sumitomo Mitsui Financial Group during the 4th quarter valued at approximately $8,534,000. Parametric Portfolio Associates LLC lifted its stake in shares of Sumitomo Mitsui Financial Group by 18.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 6,035,660 shares of the bank’s stock valued at $46,535,000 after buying an additional 922,574 shares in the last quarter. Finally, Cambiar Investors LLC lifted its stake in shares of Sumitomo Mitsui Financial Group by 2.1% during the 4th quarter. Cambiar Investors LLC now owns 25,262,202 shares of the bank’s stock valued at $219,529,000 after buying an additional 522,256 shares in the last quarter. Institutional investors own 2.48% of the company’s stock.

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About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides various banking and financial services. Its Commercial Banking segment offers deposits; loans, including syndicated loans, commitment lines, structured finance, and nonrecourse loans, as well as settlement, cash management, leasing, factoring, management information systems consulting, collection, and investment banking services for listed and mid-sized companies; and personal bank accounts, ordinary deposits, time deposits, foreign currency deposits, housing loans, investment trusts, pension-type insurance products, and life insurance products for individuals.

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