Cordatus Wealth Management LLC Makes New Investment in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Key Points

• Cordatus Wealth Management LLC acquired a new stake in Sumitomo Mitsui Financial Group Inc, purchasing 36,863 shares valued at approximately $570,000 in the first quarter.
• Several institutional investors, including Natixis Advisors LLC and LPL Financial LLC, significantly increased their stakes in Sumitomo Mitsui Financial Group during the same period.
• Brokerages have provided mixed ratings on SMFG, with Nomura Securities upgrading the stock to a "strong-buy" while Wall Street Zen downgraded it to "sell".

Cordatus Wealth Management LLC bought a new position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 36,863 shares of the bank's stock, valued at approximately $570,000.

Other institutional investors have also made changes to their positions in the company. Capital A Wealth Management LLC acquired a new stake in Sumitomo Mitsui Financial Group during the 4th quarter worth approximately $25,000. Bessemer Group Inc. raised 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 purchasing an additional 1,119 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at approximately $34,000. Private Trust Co. NA raised its holdings in shares of 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 valued at $36,000 after purchasing an additional 2,130 shares during the last quarter. Finally, Financial Management Professionals Inc. grew its stake in shares of 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 valued at $37,000 after buying an additional 1,127 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SMFG has been the subject of several analyst reports. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday. Nomura Securities upgraded Sumitomo Mitsui Financial Group to a "strong-buy" rating in a report on Thursday, July 3rd.

Sumitomo Mitsui Financial Group Stock Performance

SMFG traded down $0.06 during trading hours on Friday, hitting $15.08. The stock had a trading volume of 2,421,495 shares, compared to its average volume of 2,008,126. The company's fifty day simple moving average is $15.13 and its 200 day simple moving average is $14.83. Sumitomo Mitsui Financial Group Inc has a 1 year low of $10.74 and a 1 year high of $16.74. The stock has a market cap of $97.36 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.67 and a beta of 0.41. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.64.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its earnings results on Thursday, July 31st. The bank reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a return on equity of 7.83% and a net margin of 11.78%. The company had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $1,094.67 billion. Equities analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Sumitomo Mitsui Financial Group Company 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.