Ninepoint Partners LP Makes New Investment in Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Ninepoint Partners LP acquired 106,929 shares of Sumitomo Mitsui Financial Group during the second quarter, valued at approximately $2.52 million. Institutional investors collectively own 3.85% of SMFG.
• SMFG reported quarterly earnings of $0.49 per share on $8.71 billion in revenue, with a 10.65% return on equity and a 16.24% net margin.
• The stock opened at $24.57, near its 52-week high of $26.67. Analyst sentiment remains broadly positive, with a consensus “Buy” rating despite mixed recent recommendations.

Ninepoint Partners LP acquired a new stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 106,929 shares of the bank's stock, valued at approximately $2,521,000.

A number of other institutional investors have also bought and sold shares of SMFG. Ascentis Independent Advisors bought a new position in shares of Sumitomo Mitsui Financial Group in the 1st quarter worth about $27,000. Bayban bought a new stake in Sumitomo Mitsui Financial Group in the fourth quarter worth approximately $30,000. Cornerstone Planning Group LLC increased its stake in shares of Sumitomo Mitsui Financial Group by 3,149.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,592 shares of the bank's stock valued at $33,000 after acquiring an additional 1,543 shares in the last quarter. Park Square Financial Group LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 58.0% during the 4th quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank's stock valued at $31,000 after acquiring an additional 598 shares during the period. Finally, Pin Oak Investment Advisors Inc. bought a new position in Sumitomo Mitsui Financial Group during the third quarter worth $29,000. Institutional investors own 3.85% of the company's stock.

Insider Transactions at Sumitomo Mitsui Financial Group

In related news, CFO Kazuyuki Anchi sold 4,000 shares of the company's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $42.47, for a total transaction of $169,880.00. Following the completion of the sale, the chief financial officer owned 48,857 shares in the company, valued at approximately $2,074,956.79. This represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.05% of the company's stock.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE SMFG opened at $24.57 on Friday. The stock has a market cap of $156.80 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 0.97 and a beta of 0.42. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.05 and a current ratio of 1.05. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $15.18 and a fifty-two week high of $26.67. The firm's 50-day simple moving average is $25.20 and its 200 day simple moving average is $22.82.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The bank reported $0.49 EPS for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.65% and a net margin of 16.24%.The firm had revenue of $8.71 billion during the quarter. As a group, research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SMFG. Weiss Ratings downgraded shares of Sumitomo Mitsui Financial Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, August 5th. Zacks Research raised Sumitomo Mitsui Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Sumitomo Mitsui Financial Group has an average rating of "Buy".

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source