Zacks Investment Research upgraded shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) from a hold rating to a buy rating in a report published on Saturday. They currently have $8.25 target price on the bank’s stock.

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. “

SMFG has been the subject of several other research reports. BidaskClub lowered shares of Sumitomo Mitsui Financial Group from a hold rating to a sell rating in a research note on Wednesday, July 19th. UBS AG upgraded shares of Sumitomo Mitsui Financial Group from a neutral rating to a buy rating in a research note on Wednesday, June 21st. Finally, ValuEngine lowered shares of Sumitomo Mitsui Financial Group from a strong-buy rating to a buy rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Sumitomo Mitsui Financial Group currently has a consensus rating of Buy and an average price target of $8.25.

Sumitomo Mitsui Financial Group (NYSE:SMFG) opened at 7.42 on Friday. The firm has a market capitalization of $52.32 billion, a price-to-earnings ratio of 8.23 and a beta of 1.30. The company’s 50-day moving average price is $7.63 and its 200 day moving average price is $7.57. Sumitomo Mitsui Financial Group has a 52-week low of $6.39 and a 52-week high of $8.30.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its quarterly earnings results on Monday, July 31st. The bank reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.11. Sumitomo Mitsui Financial Group had a net margin of 14.43% and a return on equity of 6.95%. The company had revenue of $12.25 billion during the quarter. Equities analysts predict that Sumitomo Mitsui Financial Group will post $0.87 earnings per share for the current fiscal year.

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Large investors have recently modified their holdings of the company. Park Avenue Securities LLC acquired a new position in Sumitomo Mitsui Financial Group during the second quarter valued at approximately $105,000. Park National Corp OH acquired a new position in Sumitomo Mitsui Financial Group during the second quarter valued at approximately $107,000. Neuberger Berman Group LLC acquired a new position in Sumitomo Mitsui Financial Group during the second quarter valued at approximately $120,000. People s United Financial Inc. acquired a new position in Sumitomo Mitsui Financial Group during the second quarter valued at approximately $134,000. Finally, Proficio Capital Partners LLC increased its position in Sumitomo Mitsui Financial Group by 75.1% in the second quarter. Proficio Capital Partners LLC now owns 18,171 shares of the bank’s stock valued at $142,000 after buying an additional 7,791 shares during the period. Institutional investors own 2.24% of the company’s stock.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc is a holding company for Sumitomo Mitsui Banking Corporation (the Bank) and its subsidiaries. The Company operates through four segments: Commercial Banking, Leasing, Securities and Consumer Finance. The Company and its subsidiaries offer a range of financial services, including commercial banking, leasing, securities, consumer finance and other services.

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