SMFG Stock Recent News

Does Sumitomo Mitsui (SMFG) have what it takes to be a top stock pick for momentum investors? Let's find out.

Sumitomo Mitsui Banking Corporation (“SMBC”) leads a $375 million financing for the Company's Ellendale High Performance Computing (“HPC”) data center campus (the “Ellendale HPC Campus”) Provides further validation of the Ellendale HPC Campus through a partnership with one of the world's leading data center financing platforms DALLAS, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Applied Digital Corporation (Nasdaq: APLD) ("Applied Digital" or the "Company"), a designer, builder, and operator of next-generation digital infrastructure for HPC applications, announced today that the Company, through its HPC subsidiary APLD HPC Holdings LLC (“APLDH”), closed a $375 million financing with SMBC. The Company used a portion of the proceeds to repay its obligations under the Macquarie Capital senior secured note, and the remaining proceeds are intended to be used to advance the development of the first and second data center buildings at the Ellendale HPC Campus.

I maintain my Buy rating for Sumitomo Mitsui Financial due to favorable NIM prospects and significant progress in portfolio rationalization, warranting a higher valuation. SMFG's NIM is expected to improve, driven by a favorable rate environment and lower funding costs, with a projected +10% net profit increase in FY26. The bank is optimizing its portfolio by divesting non-core financial investments and reallocating capital to more profitable segments, enhancing its Return On Equity.

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.

Sumitomo Mitsui (SMFG) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

SMFG, QFIN, and DKL made it to the Zacks Rank #1 (Strong Buy) value stocks list on August 22, 2024.

Sumitomo Mitsui (SMFG) could be a solid choice for shorter-term investors looking to capitalize on the recent price trend in fundamentally sound stocks. It is one of the many stocks that passed through our shorter-term trading strategy-based screen.

LOS ANGELES--(BUSINESS WIRE)--Jenius Bank, the digital banking division of SMBC MANUBANK and a member of the SMBC Group, today unveiled the findings of its new survey, The Mind-Money Connection: How Managing Your Finances Can Make You Happier, revealing the tangible ways consumers' financial situations intertwine with our mental health and wellbeing. The report, which surveyed more than 4,000 U.S. consumers*, comes as Americans face a wave of significant financial hurdles, from persistent infla.

LOS ANGELES--(BUSINESS WIRE)--Jenius Bank™ hit a milestone last week, reaching $1 billion in deposits for its high-yield savings product.

Sumitomo Mitsui's latest fiscal year net income and its forward-looking earnings guidance were both better than what the analysts had expected. SMFG has the potential to command a higher P/B multiple, considering its favorable dividend guidance, the new JPY100 billion buyback plan, and the proposed stock split. The multiple positives for Sumitomo Mitsui suggest that a favorable re-rating of the stock's valuation in the future is highly probable.