Calamos Advisors LLC Acquires 120,431 Shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Calamos Advisors LLC raised its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 56.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 332,151 shares of the bank's stock after acquiring an additional 120,431 shares during the quarter. Calamos Advisors LLC's holdings in Sumitomo Mitsui Financial Group were worth $5,135,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in shares of Sumitomo Mitsui Financial Group by 139.7% in the fourth quarter. Bank of New York Mellon Corp now owns 745,849 shares of the bank's stock valued at $10,807,000 after purchasing an additional 434,728 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 18.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 482,783 shares of the bank's stock valued at $6,996,000 after purchasing an additional 76,862 shares during the period. Assetmark Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 114.5% in the fourth quarter. Assetmark Inc. now owns 18,741 shares of the bank's stock valued at $272,000 after purchasing an additional 10,003 shares during the period. M&T Bank Corp raised its position in shares of Sumitomo Mitsui Financial Group by 2.8% in the fourth quarter. M&T Bank Corp now owns 51,196 shares of the bank's stock valued at $742,000 after purchasing an additional 1,409 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at approximately $1,585,000. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th.

Sumitomo Mitsui Financial Group Stock Performance

SMFG stock traded down $0.30 on Monday, reaching $14.99. 224,271 shares of the company were exchanged, compared to its average volume of 1,558,551. Sumitomo Mitsui Financial Group Inc has a 12 month low of $10.74 and a 12 month high of $16.74. The stock's fifty day moving average price is $14.83 and its 200 day moving average price is $14.74. The firm has a market capitalization of $96.75 billion, a PE ratio of 16.47, a PEG ratio of 0.67 and a beta of 0.39. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.05 and a quick ratio of 1.05.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last announced its earnings results on Wednesday, May 21st. The bank reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Sumitomo Mitsui Financial Group had a return on equity of 7.74% and a net margin of 11.57%. The company had revenue of $16.55 billion for the quarter. On average, research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Sumitomo Mitsui Financial Group Profile

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.