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Cerity Partners LLC Buys 148,480 Shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Sumitomo Mitsui Financial Group logo with Finance background

Cerity Partners LLC increased its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 46.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 468,210 shares of the bank's stock after acquiring an additional 148,480 shares during the quarter. Cerity Partners LLC's holdings in Sumitomo Mitsui Financial Group were worth $7,239,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital A Wealth Management LLC bought a new stake in Sumitomo Mitsui Financial Group during the 4th quarter worth approximately $25,000. Bessemer Group Inc. grew its holdings in shares of Sumitomo Mitsui Financial Group by 138.1% in the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock valued at $28,000 after acquiring an additional 1,119 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $34,000. Private Trust Co. NA raised its holdings in shares of Sumitomo Mitsui Financial Group by 1,044.1% in the 1st 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 period. Finally, Financial Management Professionals Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 88.3% in the 1st 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 period. 3.85% of the stock is owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Price Performance

Sumitomo Mitsui Financial Group stock traded down $0.12 during midday trading on Friday, reaching $14.66. 320,758 shares of the stock were exchanged, compared to its average volume of 1,599,159. The company's fifty day moving average is $14.97 and its 200-day moving average is $14.77. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $94.62 billion, a PE ratio of 16.12, a PEG ratio of 0.64 and a beta of 0.39. Sumitomo Mitsui Financial Group Inc has a 52 week low of $10.74 and a 52 week high of $16.74.

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 the consensus estimate of $0.07 by ($0.05). The company had revenue of $16.55 billion for the quarter. Sumitomo Mitsui Financial Group had a net margin of 11.57% and a return on equity of 7.74%. On average, sell-side analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

SMFG has been the topic of a number of research reports. Nomura Securities raised shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a report on Thursday, July 3rd. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th.

Read Our Latest Research Report on Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Sumitomo Mitsui Financial Group (NYSE:SMFG)

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