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.
Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its earnings results on Tuesday, March 31st. The bank reported $0.18 EPS for the quarter. The firm 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 10.19%. As a group, equities research analysts predict that Sumitomo Mitsui Financial Group Inc will post 1.86 EPS for the current fiscal year.
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
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding SMFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Sumitomo Mitsui Financial Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sumitomo Mitsui Financial Group wasn't on the list.
While Sumitomo Mitsui Financial Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
