Calamos Advisors LLC Takes $3.66 Million Position in Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Calamos Advisors LLC opened a new position in Sumitomo Mitsui Financial Group during the first quarter, buying 185,280 shares valued at about $3.66 million.
• Other institutional investors also made small moves in SMFG, and institutional ownership stands at 3.85% of the company.
• Analyst sentiment is mixed but generally positive, with the stock carrying a “Moderate Buy” consensus rating despite recent upgrades and downgrades.

Calamos Advisors LLC acquired a new position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 185,280 shares of the bank's stock, valued at approximately $3,659,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SMFG. PFS Partners LLC acquired a new stake in Sumitomo Mitsui Financial Group during the fourth quarter valued at approximately $27,000. Ascentis Independent Advisors bought a new position in shares of Sumitomo Mitsui Financial Group during the 1st quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. acquired a new stake in Sumitomo Mitsui Financial Group in the 3rd quarter valued at $29,000. Northwestern Mutual Wealth Management Co. boosted its stake in Sumitomo Mitsui Financial Group by 163.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank's stock valued at $30,000 after buying an additional 1,227 shares in the last quarter. Finally, Sound Income Strategies LLC grew its position in Sumitomo Mitsui Financial Group by 76.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank's stock valued at $30,000 after acquiring an additional 610 shares during the period. Institutional investors own 3.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Zacks Research cut Sumitomo Mitsui Financial Group from a "strong-buy" rating to a "hold" rating in a report on Monday, June 22nd. Weiss Ratings raised shares of Sumitomo Mitsui Financial Group from a "hold (c)" rating to a "buy (b-)" rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

Sumitomo Mitsui Financial Group Price Performance

SMFG opened at $26.45 on Thursday. Sumitomo Mitsui Financial Group Inc has a one year low of $14.40 and a one year high of $26.67. 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's 50 day simple moving average is $23.60 and its 200-day simple moving average is $21.87. The stock has a market capitalization of $168.70 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 1.00 and a beta of 0.42.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.19%. The firm had revenue of $7.31 billion during the quarter. Sell-side analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.87 earnings per share for the current fiscal 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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