Sumitomo Mitsui Finl Gr Azioni (NYSE: SMFG)

Ultime notizie per Sumitomo Mitsui Finl Gr (NYSE:SMFG) Azioni

Sumitomo Mitsui Finl Gr

Sumitomo Mitsui Financial Group is roughly tied with Mizuho Financial Group for the status of Japan's second-largest bank after Mitsubishi UFJ Financial Group. As of March 2024, its market share of domestic loans was 7.2%, compared with 8.0% for MUFG. It has a larger consumer finance business than the other two megabanks, owning 100% of the Promise business and SMBC Card. It also controls one of Japan's largest leasing companies and SMBC Aviation Capital, one of the top five aircraft lessors globally. In securities, its SMBC Nikko unit is Japan's third-largest retail broker, although SMFG has lagged somewhat in institutional securities business and asset management.

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Pre-market: Palantir guida i rialzi con un +9,6%, mentre SunPower e Chegg mostrano cali significativi. Scopri i dettagli.

Chi sale e chi scende: i maggiori movimenti nel pre-market di oggi

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Shares of Japanese banking companies are trading higher. Japanese Prime Minister Shigeru Ishiba told ministers to compile a stimulus package.

Shares of Japanese banking companies are trading higher amid a rise in the price of the yen. Incoming Prime Minister Shigeru Ishiba announced plans for a snap election on October 27, shortly after his recent election victory.

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Shares of US-listed Japanese stocks are trading lower after the Liberal Democratic Party of Japan elected Shigeru Ishiba as its leader, who will take office as Prime Minister.

Shares of US-listed Japanese banking companies are trading higher, possibly after the Bank of Japan released minutes of its July meeting. Also, the sector may be gaining ahead of Tokyo Core CPI data for September.

Shares of US-listed Japanese banks are trading lower, possibly on flat BoJ Core CPI data. Governor of the Bank of Japan, Kazuo Ueda, has reportedly said the BOJ will raise rates if inflation remains on track to hit 2%.

Shares of US-listed Japanese banks are trading lower, possibly driven by a recent rise in the yen.

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Shares of banking companies are trading lower amid overall market weakness as investors react to jobs data.

Shares of US-listed Japanese banking companies are trading higher following strong GDP economic data. Japanese Prime Minister Fumio Kishida, on Wednesday, announced that he will step down in September.

Shares of US-listed Japanese stocks are trading higher after the Nikkei closed higher.

Shares of US-listed Japanese stocks are trading higher after the Nikkei rebounded following its recent drop.

U.S. stock futures were higher this morning, with the Dow futures gaining around 100 points on Tuesday.
Shares of ZoomInfo Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>) shares declined 15.2% to $8.31 in pre-market trading after the company reported worse-than-expected financial results for the second quarter and <a href="https://www.benzinga.com/news/24/08/40173882/zoominfo-technologies-q2-earnings-revenue-miss-eps-miss-soft-guidance-cfo-transition-and-more">announced a management transition</a>.
The company announced that CFO Cameron Hyzer will step down from his role. Hyzer will remain in an advisory capacity until Oct. 7 to help facilitate a smooth transition. Graham O&#8217;Brien has been named interim CFO, effective Sept. 6.
ZoomInfo Technologies shares dipped 15.2% to $8.31 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Chegg Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) shares declined 18.7% to $2.38 in pre-market trading following second-quarter results.</li>
<li>Helport AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HPAI#NASDAQ">HPAI</a>) shares fell 15.2% to $7.15 in pre-market trading after declining 24% on Monday.</li>
<li>Sumitomo Mitsui Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>) fell 10.5% to $10.80 in pre-market trading after declining around 4% on Monday.</li>
<li>Teradata Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDC#NYSE">TDC</a>) shares declined 8% to $26.83 in pre-market trading following weak quarterly sales.</li>
<li>Mizuho Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MFG#NYSE">MFG</a>) fell 7% to $3.57 in pre-market trading after declining over 5% on Monday.</li>
<li>Mitsubishi UFJ Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUFG#NYSE">MUFG</a>) shares declined 5.6% to $8.96 in pre-market trading.</li>
<li>Cerus Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERS#NASDAQ">CERS</a>) fell 4.5% to $2.12 in pre-market trading following a 5% decline on Monday.</li>
<li>Sea Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>) shares slipped 3.6% to $57.78. Sea will announce its second quarter results before the opening bell on Aug. 13.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/news/earnings/24/08/40178833/dow-records-worst-day-in-around-2-years-mag-7-stocks-lose-650b-in-market-capitalization-greed-index">Dow Records Worst Day In Around 2 Years, Mag 7 Stocks Lose $650B In Market Capitalization: Greed Index Moves To &#8216;Extreme Fear&#8217; Zone</a></li>
</ul>

CERS

ZoomInfo Reports Weak Results, Joins Chegg And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

Shares of Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) rose sharply in today's pre-market trading after the company reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/08/40172453/palantir-q2-earnings-revenue-beat-eps-beat-customer-count-up-41-driven-by-strength-in-us-commercial">second-quarter results</a>.
Palantir reported second-quarter revenue of $678.13 million, beating the consensus estimate of $652.1 million, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Palantir reported second-quarter adjusted earnings of 9 cents per share, beating analyst estimates of 8 cents per share.
Palantir Technologies shares surged 9.6% to $26.40 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Lytus Technologies Holdings PTV. Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYT#NASDAQ">LYT</a>) rose 79.1% to $2.56 in today's pre-market trading after dipping over 12% on Monday.</li>
<li>Lumen Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) gained 44.8% to $3.75 in pre-market trading after the company announced it secured $5 billion in new business from companies seeking to quickly secure their fiber capacity.</li>
<li>CNS Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNSP#NASDAQ">CNSP</a>) gained 28.7% to $0.25 in pre-market trading after tumbling over 22% on Monday.</li>
<li>AgriFORCE Growing Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGRI#NASDAQ">AGRI</a>) jumped 27% to $0.0725 in pre-market trading after falling more than 5% on Monday.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) shares gained 26.6% to $0.1570 in pre-market trading after dipping 18% on Monday.</li>
<li>Rxsight Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXST#NASDAQ">RXST</a>) shares gained 22.7% to $50.00 in pre-market trading after the company posted upbeat second-quarter sales and raised its FY24 revenue forecast.</li>
<li>Serve Robotics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) shares rose 15.3% to $15.70 in pre-market trading after falling around 7% on Monday.</li>
<li>Lucid Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) shares gained 13% to $3.39 in pre-market trading after the company reported better-than-expected second-quarter sales results and announced a $1.5 billion public investment fund commitment.</li>
<li>DDC Enterprise Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDC#NYSE">DDC</a>) shares rose 10.8% to $0.5159 in pre-market trading following around 13% surge on Monday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>SunPower Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) shares dipped 24.6% to $0.61 in pre-market trading. SunPower announced a $45 million asset sale to complete Solaria and filed Chapter 11 to maximize asset value.</li>
<li>Chegg Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>) shares declined 18.7% to $2.38 in pre-market trading following second-quarter results.</li>
<li>Actinium Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATNM#NASDAQ">ATNM</a>) declined 15.3% to $2.10 in pre-market trading after dipping 60% on Monday. On Monday, the FDA determined that Actinium Pharmaceuticals&#8217; Phase 3 SIERRA trial is not adequate to support a Biologics License Application (BLA) filing for Iomab-B despite its statistically significant primary endpoint.</li>
<li>ZoomInfo Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>) shares declined 15.2% to $8.31 in pre-market trading after the company reported worse-than-expected financial results for the second quarter and announced a management transition. The company announced that CFO Cameron Hyzer will step down from his role. Hyzer will remain in an advisory capacity until Oct. 7 to help facilitate a smooth transition. Graham O&#8217;Brien has been named interim CFO, effective Sept. 6.</li>
<li>Helport AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HPAI#NASDAQ">HPAI</a>) shares fell 15.2% to $7.15 in pre-market trading after declining 24% on Monday.</li>
<li>TenX Keane Acquisition (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TENK#NASDAQ">TENK</a>) fell 14.1% to $31.00 pre-market trading. TenX Keane shares jumped 193% on Monday after shareholders approved the combination with Citius Pharma&#8217;s oncology subsidiary.</li>
<li>Upexi Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPXI#NASDAQ">UPXI</a>) fell 12.4% to $0.25 in today's pre-market trading.</li>
<li>Bluejay Diagnostics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJDX#NASDAQ">BJDX</a>) shares fell 11.8% to $0.4010 in pre-market trading after declining 18% on Monday.</li>
<li>Trio Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPET#NYSE">TPET</a>) shares fell 11.2% to $0.2594 in pre-market trading after gaining more than 19% on Monday.</li>
<li>Sumitomo Mitsui Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>) fell 10.5% to $10.80 in pre-market trading after declining around 4% on Monday.</li>
</ul>
Now Read This: 
<ul>
<li>D<a href="https://www.benzinga.com/news/earnings/24/08/40178833/dow-records-worst-day-in-around-2-years-mag-7-stocks-lose-650b-in-market-capitalization-greed-index">ow Records Worst Day In Around 2 Years, Mag 7 Stocks Lose $650B In Market Capitalization: Greed Index Moves To &#8216;Extreme Fear&#8217; Zone</a></li>
</ul>

Why Palantir Technologies Shares Are Trading Higher By Around 10%; Here Are 20 Stocks Moving Premarket

Shares of US-listed Japanese stocks are trading lower after the Nikkei sold off amid US economic worries.

Shares of Japanese stocks are trading lower following the Bank of Japan's recent rate hike.

Sumitomo Mitsui Financial Group shares are trading lower after the company reported a year-over-year decrease in Q1 sales results.

Sumitomo Mitsui Finl Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>) reported quarterly earnings of $0.36 per share which beat the analyst consensus estimate of $0.33 by 9.09 percent. This is a 33.33 percent increase over earnings of $0.27 per share from the same period last year. The company reported $16.19 billion in sales this quarter. This is a 0.43 percent decrease over sales of $16.26 billion the same period last year.

Earnings

Earnings Beats

Sumitomo Mitsui Finl Gr Q1 EPS $0.36 Beats $0.33 Estimate, Sales $16.19B Down From $16.26B YoY

U.S. stock futures were lower this morning, with the Dow futures falling around 300 points on Friday.
Shares of Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) fell in today's pre-market trading after the company reported its second-quarter <a href="https://www.benzinga.com/news/earnings/24/08/40115276/intel-stock-falls-after-weak-q2-results-new-cost-reduction-plan-15-headcount-reduction">financial results Thursday</a>.
Intel reported quarterly earnings of 2 cents per share which missed the analyst consensus estimate of 10 cents by 80% and represents a 84.62% decrease from the same period last year. Quarterly sales came in at $12.83 billion, missing the analyst consensus estimate of $12.94 billion and representing a 0.9% decrease year-over-year.
Intel shares fell 21.5% to $22.80 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Procore Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>) shares declined 21.9% to $52.48 in pre-market trading after the company reported second-quarter financial results and issued third-quarter revenue guidance below estimates.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) fell 17.1% to $10.62 pre-market trading after the company reported mixed second-quarter financial results.</li>
<li>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) shares declined 16.9% to $143.94 in pre-market trading after the company posted fourth-quarter results.</li>
<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) shares fell 11.7% to $1.88 in pre-market trading after the company reported second-quarter financial results.</li>
<li>Lexicon Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXRX#NASDAQ">LXRX</a>) dipped 10.9% to $1.80 in pre-market trading after the company posted weak second-quarter results.</li>
<li>Mitsubishi UFJ Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUFG#NYSE">MUFG</a>) shares declined 8.5% to $10.11 in pre-market trading.</li>
<li>Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) shares fell 8.4% to $168.63 in pre-market trading as the company posted mixed results for its second quarter on Thursday.</li>
<li>Sumitomo Mitsui Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>) fell 6.3% to $13.20 in pre-market trading.</li>
<li>CenterPoint Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNP#NYSE">CNP</a>) declined 6.2% to $26.40 in pre-market trading. BMO Capital analyst James Thalacker downgraded CenterPoint Energy from Outperform to Market Perform and lowered the price target from $31 to $28.</li>
<li>ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) shares fell 6.2% to $828.70 in pre-market trading.</li>
</ul>
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AMZN

ASML

INTC

LXRX

OPEN

PCOR

SNAP

TEAM

Intel Reports Weak Results, Joins Amazon, Opendoor Technologies And Other Big Stocks Moving Lower In Friday's Pre-Market Session

While &quot;the trend is your friend&quot; when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn&#39;t easy.
Often, the direction of a stock&#39;s price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it&#39;s important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- that could keep the momentum in the stock going.
Investors looking to make a profit from stocks that are currently on the move may find our &quot;Recent Price Strength&quot; screen pretty useful. This predefined screen comes handy in spotting stocks that are on an uptrend backed by strength in their fundamentals, and trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.
There are several stocks that passed through the screen and Sumitomo Mitsui (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/smfg#NYSE">SMFG</a>) is one of them. Here are the key reasons why this stock is a solid choice for &quot;trend&quot; investing.
A solid price increase over a period of 12 weeks reflects investors&#39; continued willingness to pay more for the potential upside in a stock. SMFG is quite a good fit in this regard, gaining 24.2% over this period.
However, it&#39;s not enough to look at the price change for around three months, as it doesn&#39;t reflect any trend reversal that might have happened in a shorter time frame. It&#39;s important for a potential winner to maintain the price trend. A price increase of 11.5% over the past four weeks ensures that the trend is still in place for the stock of this bank.
Moreover, SMFG is currently trading at 99.8% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.
Looking at the fundamentals, the stock currently carries a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises -- the key factors that impact a stock&#39;s near-term price movements.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
Another factor that confirms the company&#39;s fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock&#39;s near-term price performance.
So, the price trend in SMFG may not reverse anytime soon.
<a href="https://www.zacks.com/stock/news/2306684/recent-price-trend-in-sumitomo-mitsui-smfg-is-your-friend-here-s-why?cid=CS-BENZ-FT-tale_of_the_tape|recent_price_strength_screen-2306684">To read this article on Zacks.com click here.</a>

Analyst Ratings

Recent Price Trend in Sumitomo Mitsui is Your Friend, Here's Why

In a significant strategic move, Toyota Motor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) has announced plans to repurchase ¥806.8 billion ($5.2 billion) of its shares from key Japanese banks and insurers. The move is part of a broader strategy to untangle its shareholdings with financial partners.
What Happened: The shares will be bought back from Mitsubishi UFJ Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUFG#NYSE">MUFG</a>), Sumitomo Mitsui Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMFG#NYSE">SMFG</a>), Tokio Marine Holdings Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TKOMY#OTC">TKOMY</a>), and MS&amp;AD Insurance Group Holdings Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MSADY#OTC">MSADY</a>) at ¥2,781 each, an 11% discount to their closing price on Tuesday, Bloomberg <a href="https://www.benzinga.com/markets/equities/24/06/39228602/japanese-mega-banks-plan-8-5b-toyota-stake-sale-report">reported</a> on Tuesday.
This move is part of a ¥1 trillion ($6.4 billion) repurchase plan announced by Toyota in May, aimed at satisfying the Japanese government&#8217;s push for large corporations to unwind cross-held shareholdings. The deal could potentially trigger a broader wave of looser equity ties in Japan.
Why It Matters: This strategic move is a response to the<a href="https://www.benzinga.com/markets/equities/24/06/39228602/japanese-mega-banks-plan-8-5b-toyota-stake-sale-report"> Japanese government&#8217;s push</a> for corporations to dismantle their extensive network of cross-held shares. Toyota&#8217;s share buyback initiative, announced in May, is a significant increase from previous repurchases.
Toyota&#8217;s shares have climbed 26% this year, following a 43% rally in 2023. The banks and insurers plan to divest their Toyota shareholdings over a few years, significantly reducing their stakes or divesting them entirely.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39871513/trump-pours-cold-water-on-industry-tesla-falls-ahead-of-earnings-week-fords-step-back-in-ev-plan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Pours Cold Water On Industry, Tesla Falls Ahead Of Earnings Week, Ford&#8217;s Step-back In EV Plans And More: Biggest EV Stories Of The Week</a>
Recently, Toyota has announced that its internal investigation into car model certification applications has not uncovered any further <a href="https://www.benzinga.com/news/24/07/39640788/toyota-says-it-has-not-found-any-further-wrongdoing-in-certification-applications-beyond-those-repor">instances of misconduct</a>, beyond those previously reported. This investigation was initiated in response to an industry-wide directive from the Japanese transport ministry, following a safety test scandal at Toyota's Daihatsu compact car unit.
Furthermore, Toyota&#8217;s electric vehicle (EV) sales <a href="https://www.benzinga.com/markets/penny-stocks/24/07/39671005/toyota-has-finally-hit-the-accelerator-on-its-ev-journey">quadrupled in the second quarter,</a> with the company selling almost 250,000 hybrid and electric models. This represents a year-over-year rise of 63%, representing almost 40% of the group&#8217;s total volume. EVs and PHEVs are undoubtedly Toyota's fastest-growing segment.
Price Action: Toyota Motor stock closed at $200.14 on Monday, according to<a href="https://pro.benzinga.com"> Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/39878361/tesla-ceo-elon-musk-clarifies-he-has-literally-zero-business-interests-in-russia-slams-podcast-host?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla CEO Elon Musk Clarifies He Has &#8216;Literally Zero&#8217; Business Interests In Russia, Slams Podcast Host Sam Harris: &#8216;Pompous Hypocrite…&#8217;</a></li>
</ul>
Photo by josefkubes on Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Asia

Buybacks

Global

General

MSADY

TKOMY

Toyota Announces $5.2B Share Buyback From Japanese Banks And Insurers

BANC

FFBC

FIBK

FULT

SBCF

TCBI

Shares of bank stocks are trading higher amid overall market strength on rate rate cut optimism. The sector may also be up following strong earnings from Bank of America and Morgan Stanley.

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Sumitomo Mitsui Finl Gr (NYSE:<a href="https://investorplace.com/stock-quotes/smfg-stock-quote/">SMFG</a>) just reported results for the first quarter of 2024.<ul><li>Sumitomo Mitsui Finl Gr reported earnings per share of 36 cents. This was above the analyst estimate for EPS of 33 cents.</li><li>The company reported revenue of $16.19 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/smfg-stock-earnings-sumitomo-mitsui-finl-gr-for-q1-of-2024/">SMFG Stock Earnings: Sumitomo Mitsui Finl Gr Beats EPS for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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Sumitomo Mitsui: Spotlight On Above-Expectation Earnings And Positive ROE Outlook

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While interest rates remain high, it offers a good opportunity to investors to consider these <a href="https://investorplace.com/industries/financial/">financial stocks</a> for rising interest rates. An increase in interest rates often results in increased net interest margins for banks and other financial institutions. This is because the difference between the cost of funds and the income from loans is wider.&nbsp;



Although the expectation of future rate cuts in the U.S. has brought some uncertainty, at the moment, the high rates remain stable. So, this is beneficial for financial organizations that work in this field.&nbsp;



Meanwhile, countries such as Japan have decided to <a href="https://www.bbc.com/news/articles/cw4yz4emgwko">controversially raise interest rates</a>, along with Indonesia and several other countries in the Asia-Pacific region. Now might be a good time to consider investing in these financial stocks for rising interest rates to achieve international diversification and also benefit from these tailwinds.



Let&rsquo;s delve into seven stocks that investors should consider adding to their portfolios.



<h2>Sumitomo Mitsui Financial Group (SMFG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/financial-chart-graphic-fintech-1600-300x169.jpg" alt="Graphic of side view of virtual financial charts with tech aesthetic, symbolizing fintech"><div>Source: shutterstock.com/whiteMocca</div></div>Sumitomo Mitsui Financial Group (NYSE:<a href="https://investorplace.com/stock-quotes/smfg-stock-quote/">SMFG</a>) is a good investment candidate, especially when global investors are in search of undervalued <a href="https://investorplace.com/stock-types/dividend-stocks/">dividend stocks</a>, particularly in strong economies.



SMFG has shifted its focus toward strengthening its wealth <a href="https://www.smfg.co.jp/english/investor/financial/latest_statement/2025_3/2025_1q_e01.pdf">management</a> arm, and this is in sync with Japan&rsquo;s population which is rapidly aging. Although SMFG has risen considerably in the recent past, the <a href="https://stockanalysis.com/stocks/smfg/statistics/">price-to-book ratio is currently 0.78</a>, which is unusual for a bank as it should trade near or above its asset value.



Furthermore, with improving profitability metrics such as an ROE target of 9% by fiscal year 2029, SMFG is not just a strong dividend payer but also a solid growth prospect. It pays a strong dividend yield of 2.94%. This has risen steadily over the years, which balances its income and growth potential. I foresee that SMFG will make a strong upside move in the near future as the Nikkei 225 is in a territory of recovery.



<h2>Mitsubishi UFJ Financial Group (MUFG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/mufg-1600-300x169.png" alt="A sign outside of a Mitsubishi UFJ Financial Group (MUFG) Bank shows the company's logo."><div>Source: Ned Snowman / Shutterstock.com</div></div>Mitsubishi UFJ Financial Group (NYSE:<a href="https://investorplace.com/stock-quotes/mufg-stock-quote/">MUFG</a>) is another one of those financial stocks for rising interest rates. Being the biggest financial group in Japan, MUFG is a leader in the domestic market, thanks to the well-developed network of branches and ATMs.



Furthermore, MUFG has an international operation that spans across Asia, which gives it <a href="https://www.mufg.jp/dam/ir/presentation/2024/pdf/slides240710_en.pdf">other sources of income</a> aside from the Japanese market. The company&rsquo;s robust balance sheet, which outstrips many Western banking giants, is another reason for investors to consider MUFG. It is the largest non-Chinese bank group globally, accounting for 8.1% of all of Japan&rsquo;s loans.



Thus, MUFG may be one of the strongest beneficiaries of rising interest rates in Japan, as this would naturally attract even more deposits. Analysts project revenue growth of 14.08% over the next 5 years. I don&rsquo;t think this is fully reflected in its stock price at the time of writing, especially considering the sell-off in the Nikkei.&nbsp;



<h2>Morgan Stanley (MS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/07/ms_morgan_stanley_1600-300x169.jpg" alt="The logo for Morgan Stanley is displayed on the side of a building."><div>Source: Ken Wolter / Shutterstock.com</div></div>Morgan Stanley (NYSE:<a href="https://investorplace.com/stock-quotes/ms-stock-quote/">MS</a>) has <a href="https://www.morganstanley.com/content/dam/msdotcom/en/about-us-ir/shareholder/2q2024.pdf">continued to cement its position</a> as a leading firm in the financial services sector after releasing its second-quarter 2024 financial report. The firm achieved net revenues of $15 billion, which is a substantial increase year-over-year.&nbsp;



One point from MS stock&rsquo;s quarterly report caught my eye. It read &ldquo;Net interest income decreased from a year ago on lower average sweep deposits reflecting the cumulative effect of cash redeployments by clients in a higher interest rate environment.&rdquo;



My view is that as interest rates fall, clients will return to keeping their accounts funded in their sweep accounts, which could lead to more stable deposit levels and higher margins. The other argument is that lower interest rates increase the demand for loans, which can improve MS stock&rsquo;s profitability in the future. These catalysts can apply to other stocks as well on this list. But with MS stock&rsquo;s relatively smaller deposit base, it could have an outsized impact on its profitability margins.



<h2>U.S. Bancorp (USB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/07/usb_us_bancorp_1600-300x169.jpg" alt="The logo for U.S. Bancorp's U.S. Bank is displayed on the side of a building."><div>Source: Michael Vi / Shutterstock.com</div></div>Buying shares of U.S. Bancorp (NYSE:<a href="https://investorplace.com/stock-quotes/usb-stock-quote/">USB</a>) may be a profitable move for investors seeking financial stocks for rising interest rates. This is from taking into account the <a href="https://www.investopedia.com/u-s-bancorp-stock-pops-on-q2-earnings-beat-8679413">company&rsquo;s solid results</a> of the second quarter of the year when it outperformed market expectations. USB reported an EPS of 97 cents which surpassed analyst consensus estimates of 94 cents per share. Revenue and its interest rate margin also beat expectations, at $6.87 billion and $4.02 billion, respectively.



There are some fears of a possible recession in the U.S., which have been kicked around by analysts and financial commentators over the past three years. As such, stocks such as USB have seen a drop in their stock prices, with it falling 2.29% over the past five years. Still, there <a href="https://www.cbsnews.com/news/economy-sahm-rule-is-the-us-at-risk-for-recession/">needs to be much more credible evidence</a> to suggest that a recession is coming, or even likely. But my view is that the interest rate environment has substantially increased these risks.



<h2>Charles Schwab (SCHW)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/schwab1600-300x169.jpg" alt="charles schwab sign outside of a building. SCHD stock"><div>Source: Isabelle OHara / Shutterstock.com</div></div>Charles Schwab (NYSE:<a href="https://investorplace.com/stock-quotes/schw-stock-quote/">SCHW</a>) is a great pick for investors seeking financial stocks for rising interest rates. This is due to the company&rsquo;s excellent financials and a well-placed business in the financial services sector. SCHW posted <a href="https://pressroom.aboutschwab.com/press-releases/press-release/2024/Schwab-Reports-Second-Quarter-Results/default.aspx">record client assets of $9.4 trillion</a> in Q2 FY24. Its AUM grew by 17% YOY to $4 trillion, boosted by equity market appreciation and healthy net new money inflows stemming from organic growth.



The bank also said it had a 17 percent increase in core net new assets which now stand at $61.2 billion. So, I think SCHW is well positioned to continue earnings from its client accounts and deposits even in a falling interest rate environment. Banks like SCHW may also benefit from rising stock prices as investors pivot to risk assets in search of yield, primarily through its brokerage fees.



<h2>Bank of America (BAC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/bac1600b-300x169.jpg" alt="Bank of America Stock and the Buffett Effect"><div>Source: Jonathan Weiss / Shutterstock.com</div></div>As one of America&rsquo;s largest banks, Bank of America (NYSE:<a href="https://investorplace.com/stock-quotes/bac-stock-quote/">BAC</a>) should definitely be on one&rsquo;s watch list, even if interest rates fall. Nonetheless, BAC has turned out to be very influential in the face of increasing interest rates due to its high net interest income.



In Q2 FY24, BAC <a href="https://www.cnbc.com/2024/07/16/bank-of-america-bac-earnings-q2-2024.html">reported</a> $13.9 billion in NII, which I feel is the result of the bank&rsquo;s proficiency in managing its large floating-rate pool of assets. BAC&rsquo;s&nbsp; NII is expected to rise by $600 million by the end of the year, even despite the projected rate cuts in September.



This means that BAC could be one of those financial stocks for rising interest rates, especially <a href="https://www.investopedia.com/federal-reserve-meeting-july-2024-8686785">if the Fed decides to hold rates steady</a>. This is a dissenting, but still probable cause of action, given that inflation concerns still exist across various sectors in the U.S. economy. BAC will do well in either scenario.



<h2>JPMorgan (JPM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/10/jpmorgan-jpm-1600-300x169.jpg" alt="Chase Bank logo and storefront"><div>Source: Daryl L / Shutterstock.com</div></div>JPMorgan, (NYSE:<a href="https://investorplace.com/stock-quotes/jpm-stock-quote/">JPM</a>) a bank with the highest deposit base in the U.S., presents a great opportunity for investors. The bank&rsquo;s Q2 FY24 earnings report painted a picture of a bank with <a href="https://www.cnbc.com/2024/07/12/jpmorgan-chase-jpm-earnings-q2-2024.html#:~:text=The%20bank%20said%20earnings%20jumped,profit%20was%20%244.26%20per%20share.">solid core earnings</a>, as its adjusted revenue increased by 7.8% YOY. JPM&rsquo;s return on tangible common equity (ROTCE) continues to be industry-leading, consistently delivering returns in the low 20% range.



The main reason I&rsquo;m bullish on JPM is that analysts have solid future forecasts for it. Namely, its <a href="https://stockanalysis.com/stocks/jpm/forecast/">EPS is expected to reach $14.68</a> by 2027, which will see it be up significantly from today&rsquo;s level.



The company might be fairly valued now, but the quality of its loan book and balance sheet gives it a strong edge in the event of a recession. So, I rate JPM stock a buy for investors who have less risk tolerance in the markets.



On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/08/7-financial-stocks-that-could-benefit-from-rising-interest-rates/">7 Financial Stocks That Could Benefit from Rising Interest Rates</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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