|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||36.15 - 36.15|
|52 Week Range||32.05 - 39.08|
|Beta (3Y Monthly)||1.28|
|PE Ratio (TTM)||6.81|
|Forward Dividend & Yield||1.64 (4.54%)|
|1y Target Est||N/A|
Russell 2000 ETF (IWM) lagged the larger S&P 500 ETF (SPY) by more than 10 percentage points since the end of the third quarter of 2018 as investors first worried over the possible ramifications of rising interest rates and the escalation of the trade war with China. The hedge funds and institutional investors we track […]
Japan's three largest banks all reported lower annual profits on Wednesday, highlighting the challenges faced by the banking industry as the world's third-largest economy looks to be headed for another downturn. The size of the declines varied - Sumitomo Mitsui Financial Group had a 1% drop while rival Mizuho reported an 83% dive - all three show the difficulty banks have in navigating Japan's ultra-loose monetary policy. Japanese banks have had to cope for years with an ageing and shrinking population and massive central bank stimulus that has left them with razor-thin profit margins.
Sumitomo Mitsui Financial Group (SMFG) wants to acquire Asian commercial banks, utilising some of the up to $12 billion in surplus capital that Japan's third-largest lender expects to build up over the next five years, its chief executive said. "In Asia, we would like to do full banking services including retail business in countries with economic growth potential," Takeshi Kunibe said in an interview. SMFG has been trying to build a bigger presence in emerging Asia economies, which it hopes will become its next major market besides Japan.
Japan's Nikkei fell on Thursday, with banking stocks sliding after disappointing earnings forecasts and losses in U.S. financial shares. Sumitomo Mitsui Financial Group dropped 3.1 percent, while Mizuho Financial Group shed 1.7 percent. SMFG posted a 37 percent rise in its second-quarter net profit, but it kept its profit forecast at 700 billion yen for the year ending March, below the 751.9 billion yen average of 14 analyst estimates compiled by Refinitiv.
Japan's Nikkei fell on Thursday, with banking stocks sliding after disappointing earnings forecasts and losses in U.S. financial shares. Sumitomo Mitsui Financial Group dropped 3 percent, while Mizuho Financial Group shed 1.8 percent. SMFG posted a 37 percent rise in its second-quarter net profit, but it kept its profit forecast at 700 billion yen for the year ending March, below the 751.9 billion yen average of 14 analyst estimates compiled by Refinitiv.
The bank, based in Tokyo, said it had earnings of 32 cents per share. The bank posted revenue of $13.69 billion in the period. Its revenue net of interest expense was $13.69 billion, beating Street forecasts. ...