Zacks Research cut shares of Sumitomo Mitsui Financial Group (NYSE:SMFG – Free Report) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday morning,Zacks reports.
Separately, Weiss Ratings cut Sumitomo Mitsui Financial Group from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, September 28th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sumitomo Mitsui Financial Group presently has an average rating of “Hold”.
Get Our Latest Stock Report on Sumitomo Mitsui Financial Group
Sumitomo Mitsui Financial Group Stock Performance
Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The bank reported $0.49 earnings per share (EPS) for the quarter. The company had revenue of $8.71 billion for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.65% and a net margin of 16.24%. As a group, equities analysts forecast that Sumitomo Mitsui Financial Group will post 0.94 earnings per share for the current year.
Insider Activity at Sumitomo Mitsui Financial Group
In other news, CFO Kazuyuki Anchi sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $42.47, for a total value of $169,880.00. Following the completion of the sale, the chief financial officer owned 48,857 shares of the company’s stock, valued at approximately $2,074,956.79. This represents a 7.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.05% of the company’s stock.
Hedge Funds Weigh In On Sumitomo Mitsui Financial Group
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ascentis Independent Advisors bought a new position in Sumitomo Mitsui Financial Group in the first quarter worth approximately $27,000. Continuum Advisory LLC bought a new stake in Sumitomo Mitsui Financial Group during the 2nd quarter valued at $28,000. Bayban purchased a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Sumitomo Mitsui Financial Group by 47.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,824 shares of the bank’s stock valued at $55,000 after acquiring an additional 905 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Sumitomo Mitsui Financial Group by 21.1% in the 1st quarter. Fifth Third Bancorp now owns 4,243 shares of the bank’s stock worth $84,000 after acquiring an additional 738 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.
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.
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