Wall Street Analyst Upgrade Sumitomo Mitsui Financial Group Inc. [SMFG]. What else is Wall St. saying



Sumitomo Mitsui Financial Group Inc. [NYSE: SMFG] loss -1.68% on the last trading session, reaching $5.87 price per share at the time. The company report on June 28, 2022 that Marathon Capital and Sumitomo Mitsui Banking Corporation Form Strategic Partnership.

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Partnership to expand the reach and service offerings of both Marathon Capital and SMBC, providing clients comprehensive strategic and financial support necessary to facilitate their global energy transition goals.

Marathon Capital, LLC (“Marathon Capital”), a leading independent investment banking firm, has entered into a strategic collaboration agreement (“SCA”) with Sumitomo Mitsui Banking Corporation (“SMBC”), one of the largest industrial, energy and infrastructure lenders in the world. SMBC is a member of SMBC Group, a top-tier global financial group headquartered in Tokyo with approximately $2 trillion of consolidated total assets. In conjunction with the SCA, the Parties have entered into a definitive agreement for a minority equity investment in Marathon Capital. The proceeds will be used to accelerate the firm’s growth and expansion.

Sumitomo Mitsui Financial Group Inc. represents 6.85 billion in outstanding shares, while the company has a total market value of $39.76 billion with the latest information. SMFG stock price has been found in the range of $5.80 to $5.90.

If compared to the average trading volume of 3.20M shares, SMFG reached a trading volume of 3172248 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Sumitomo Mitsui Financial Group Inc. [SMFG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SMFG shares is $7.04 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SMFG stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Sumitomo Mitsui Financial Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 23, 2022. The new note on the price target was released on April 11, 2022, representing the official price target for Sumitomo Mitsui Financial Group Inc. stock.

The Average True Range (ATR) for Sumitomo Mitsui Financial Group Inc. is set at 0.12, with the Price to Sales ratio for SMFG stock in the period of the last 12 months amounting to 2.83. The Price to Book ratio for the last quarter was 0.45, with the Price to Cash per share for the same quarter was set at 113.13.

Trading performance analysis for SMFG stock

Sumitomo Mitsui Financial Group Inc. [SMFG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.65. With this latest performance, SMFG shares dropped by -2.81% in over the last four-week period, additionally sinking by -15.30% over the last 6 months – not to mention a drop of -14.56% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SMFG stock in for the last two-week period is set at 44.30, with the RSI for the last a single of trading hit 42.30, and the three-weeks RSI is set at 44.75 for Sumitomo Mitsui Financial Group Inc. [SMFG]. The present Moving Average for the last 50 days of trading for this stock 5.99, while it was recorded at 5.94 for the last single week of trading, and 6.66 for the last 200 days.

Sumitomo Mitsui Financial Group Inc. [SMFG]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SMFG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Sumitomo Mitsui Financial Group Inc. go to 0.90%.

An analysis of insider ownership at Sumitomo Mitsui Financial Group Inc. [SMFG]

126 institutional holders increased their position in Sumitomo Mitsui Financial Group Inc. [NYSE:SMFG] by around 13,607,443 shares. Additionally, 105 investors decreased positions by around 13,917,208 shares, while 36 investors held positions by with 94,569,125 shares. The mentioned changes placed institutional holdings at 122,093,776 shares, according to the latest SEC report filing. SMFG stock had 29 new institutional investments in for a total of 1,700,226 shares, while 18 institutional investors sold positions of 2,446,911 shares during the same period.