O Shaughnessy Asset Management LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG – Free Report) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 692,443 shares of the bank’s stock after buying an additional 62,107 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $13,385,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Bridgewater Advisors Inc. grew its position in shares of Sumitomo Mitsui Financial Group by 2.2% during the 4th quarter. Bridgewater Advisors Inc. now owns 24,656 shares of the bank’s stock worth $513,000 after buying an additional 530 shares during the period. Park Square Financial Group LLC grew its position in shares of Sumitomo Mitsui Financial Group by 58.0% during the 4th quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock worth $31,000 after buying an additional 598 shares during the period. Sound Income Strategies LLC grew its position in shares of Sumitomo Mitsui Financial Group by 76.8% during the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock worth $30,000 after buying an additional 610 shares during the period. Aprio Wealth Management LLC grew its position in shares of Sumitomo Mitsui Financial Group by 3.9% during the 3rd quarter. Aprio Wealth Management LLC now owns 16,517 shares of the bank’s stock worth $276,000 after buying an additional 626 shares during the period. Finally, Pzena Investment Management LLC grew its position in shares of Sumitomo Mitsui Financial Group by 2.6% during the 3rd quarter. Pzena Investment Management LLC now owns 24,687 shares of the bank’s stock worth $413,000 after buying an additional 635 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently commented on SMFG. Wall Street Zen cut shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Friday, May 22nd. Finally, Zacks Research upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Sumitomo Mitsui Financial Group has an average rating of “Buy”.
Sumitomo Mitsui Financial Group Price Performance
Shares of NYSE:SMFG opened at $23.05 on Wednesday. The company has a market capitalization of $147.01 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 0.63 and a beta of 0.43. The firm’s 50 day simple moving average is $21.60 and its 200 day simple moving average is $20.77. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $14.40 and a fifty-two week high of $24.33.
Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. The business had revenue of $7.31 billion for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.57%. Equities research analysts expect that Sumitomo Mitsui Financial Group Inc will post 1.83 earnings per share for the current year.
Sumitomo Mitsui Financial Group Profile
Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.
The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.
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