Sumitomo Mitsui Financial Group (NYSE:SMFG) Issues Quarterly Earnings Results

Sumitomo Mitsui Financial Group (NYSE:SMFG) issued its earnings results on Friday. The bank reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.24), Zacks reports. Sumitomo Mitsui Financial Group had a return on equity of 9.14% and a net margin of 13.80%.The company had revenue of $17.71 billion for the quarter, compared to analyst estimates of $7.93 billion.

Sumitomo Mitsui Financial Group Stock Down 1.4%

Shares of NYSE:SMFG opened at $20.99 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $134.58 billion, a P/E ratio of 17.79, a P/E/G ratio of 1.11 and a beta of 0.36. Sumitomo Mitsui Financial Group has a 52-week low of $11.83 and a 52-week high of $21.54. The stock’s fifty day simple moving average is $19.63 and its 200-day simple moving average is $17.43.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SMFG. Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Wall Street Zen downgraded Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Zacks Research lowered 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 issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Sumitomo Mitsui Financial Group currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings in shares of Sumitomo Mitsui Financial Group by 26.0% during the first quarter. AQR Capital Management LLC now owns 177,249 shares of the bank’s stock worth $2,740,000 after buying an additional 36,522 shares in the last quarter. Focus Partners Wealth boosted its position in Sumitomo Mitsui Financial Group by 40.5% during the first quarter. Focus Partners Wealth now owns 18,253 shares of the bank’s stock worth $282,000 after acquiring an additional 5,258 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Sumitomo Mitsui Financial Group by 41.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock worth $49,000 after acquiring an additional 930 shares during the period. Acadian Asset Management LLC raised its holdings in Sumitomo Mitsui Financial Group by 336.4% in the 1st quarter. Acadian Asset Management LLC now owns 39,574 shares of the bank’s stock valued at $610,000 after acquiring an additional 30,506 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its holdings in Sumitomo Mitsui Financial Group by 43.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 32,398 shares of the bank’s stock valued at $490,000 after acquiring an additional 9,876 shares during the last quarter. Institutional investors and hedge funds 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.