64,785 Shares in Sumitomo Mitsui Financial Group Inc $SMFG Purchased by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. has invested approximately $1 million in Sumitomo Mitsui Financial Group Inc by purchasing 64,785 shares during the first quarter.
• Other institutional investors, including Lindbrook Capital and BSW Wealth Partners, have also increased their stakes in Sumitomo Mitsui Financial Group, reflecting growing interest in the bank.
• Sumitomo Mitsui Financial Group reported $0.40 earnings per share for the last quarter, surpassing analysts' expectations of $0.31.

1832 Asset Management L.P. bought a new position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 64,785 shares of the bank's stock, valued at approximately $1,002,000.

Other hedge funds have also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in Sumitomo Mitsui Financial Group in the fourth quarter worth $25,000. Private Trust Co. NA increased its position in Sumitomo Mitsui Financial Group by 1,044.1% in the first quarter. Private Trust Co. NA now owns 2,334 shares of the bank's stock worth $36,000 after purchasing an additional 2,130 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Sumitomo Mitsui Financial Group in the fourth quarter worth $34,000. Financial Management Professionals Inc. increased its position in Sumitomo Mitsui Financial Group by 88.3% in the first quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank's stock worth $37,000 after purchasing an additional 1,127 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in Sumitomo Mitsui Financial Group in the first quarter worth $42,000. Hedge funds and other institutional investors own 3.85% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SMFG. Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Nomura Securities upgraded shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Strong Buy".

Sumitomo Mitsui Financial Group Trading Up 0.1%

Shares of SMFG traded up $0.02 during trading hours on Thursday, reaching $16.53. 6,995,595 shares of the company traded hands, compared to its average volume of 1,947,875. The firm has a market cap of $107.00 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 0.73 and a beta of 0.41. Sumitomo Mitsui Financial Group Inc has a 12-month low of $11.83 and a 12-month high of $17.46. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.75. The stock's fifty day moving average price is $15.56 and its 200 day moving average price is $15.02.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued its earnings results on Thursday, July 31st. The bank reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.09. The firm had revenue of $16.41 billion during the quarter, compared to analyst estimates of $1,094.67 billion. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. Sell-side analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.