Sumitomo Mitsui Financial Group, Inc. Sponsored ADR Stock News

Major Japanese banks logged gains in efficiency measured by their cost-to-income ratios over the 12 months ended Sept. 30, helped by improved profits.

LOS ANGELES--(BUSINESS WIRE)--Bank welcomes Michael Trivich, MD, Chief Credit Officer; Monica Sparks, ED, Chief Accounting Officer; & Jeff Jones, MD, Chief Information Officer.

Sumitomo Mitsui's fundamentals remain robust. The macro overhang is slowly clearing as well. A stubborn book value discount keeps the risk/reward very favorable.

While interest rates remain high, it offers a good opportunity to investors to consider these financial stocks for rising interest rates. An increase in interest rates often results in increased net interest margins for banks and other financial institutions.

SMFG's Q1 EPS rose by +52.5% YoY as a result of higher net interest income and a lower credit cost. The favorable updates for Sumitomo Mitsui's net interest income guidance and cross-shareholdings reduction target give me the confidence that the company can improve its ROE to 9% going forward. I continue to assign a Buy rating to SMFG, as the stock is still trading below my target P/B ratio of ...

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