Sumitomo Mitsui Financial Grp (SMFG) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Sumitomo Mitsui Financial Grp (NYSE:SMFG) from a strong sell rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

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 downgraded Sumitomo Mitsui Financial Grp from a hold rating to a sell rating in a report on Thursday, February 7th.

Shares of SMFG opened at $6.98 on Wednesday. Sumitomo Mitsui Financial Grp has a 52-week low of $6.32 and a 52-week high of $8.54. The company has a market capitalization of $49.35 billion, a price-to-earnings ratio of 7.27, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMFG. Bank of New York Mellon Corp increased its holdings in shares of Sumitomo Mitsui Financial Grp by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 673,835 shares of the bank’s stock valued at $5,411,000 after acquiring an additional 12,713 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Sumitomo Mitsui Financial Grp by 17.0% during the third quarter. Dimensional Fund Advisors LP now owns 164,390 shares of the bank’s stock valued at $1,320,000 after acquiring an additional 23,900 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Sumitomo Mitsui Financial Grp by 46.1% during the third quarter. Renaissance Technologies LLC now owns 196,044 shares of the bank’s stock valued at $1,574,000 after acquiring an additional 61,844 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Sumitomo Mitsui Financial Grp during the third quarter valued at approximately $202,000. Finally, Federated Investors Inc. PA increased its holdings in shares of Sumitomo Mitsui Financial Grp by 201.9% during the third quarter. Federated Investors Inc. PA now owns 1,018,518 shares of the bank’s stock valued at $8,179,000 after acquiring an additional 681,144 shares in the last quarter. Hedge funds and other institutional investors own 2.57% of the company’s stock.

Sumitomo Mitsui Financial Grp Company Profile

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services primarily in Japan. It operates through four segments: Wholesale Business, Retail Business, International Business, and Global Markets Business.

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