Barometer Capital Management Inc. bought a new stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 126,900 shares of the bank’s stock, valued at approximately $2,506,000. Sumitomo Mitsui Financial Group makes up 1.0% of Barometer Capital Management Inc.’s holdings, making the stock its 25th largest position.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bridgewater Advisors Inc. raised its holdings in Sumitomo Mitsui Financial Group by 2.2% in the 4th quarter. Bridgewater Advisors Inc. now owns 24,656 shares of the bank’s stock valued at $513,000 after buying an additional 530 shares during the last quarter. Park Square Financial Group LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 58.0% in the 4th quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock worth $31,000 after purchasing an additional 598 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after purchasing an additional 610 shares during the last quarter. Traveka Wealth LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 2.3% in the 1st quarter. Traveka Wealth LLC now owns 26,726 shares of the bank’s stock valued at $528,000 after purchasing an additional 613 shares during the last quarter. Finally, Anchyra Partners LLC increased its position in shares of Sumitomo Mitsui Financial Group by 4.5% during the first quarter. Anchyra Partners LLC now owns 14,329 shares of the bank’s stock worth $283,000 after buying an additional 620 shares during the period. 3.85% of the stock is currently owned by institutional investors.
Sumitomo Mitsui Financial Group Stock Performance
NYSE SMFG opened at $25.89 on Wednesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.06 and a quick ratio of 1.06. The company has a fifty day moving average price of $23.90 and a 200-day moving average price of $22.04. Sumitomo Mitsui Financial Group Inc has a 1 year low of $14.86 and a 1 year high of $26.67. The firm has a market cap of $165.18 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 0.96 and a beta of 0.42.
Analyst Ratings Changes
SMFG has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Zacks Research cut Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Weiss Ratings raised shares of Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.
Read Our Latest Stock Report on SMFG
About Sumitomo Mitsui Financial Group
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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