Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) Shares Purchased by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. grew its position in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 63.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 71,389 shares of the bank's stock after acquiring an additional 27,756 shares during the quarter. Redhawk Wealth Advisors Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $1,104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Capital A Wealth Management LLC purchased a new position in Sumitomo Mitsui Financial Group during the fourth quarter worth $25,000. Bessemer Group Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 138.1% in the 4th quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock worth $28,000 after acquiring an additional 1,119 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth about $34,000. Financial Management Professionals Inc. grew its holdings in Sumitomo Mitsui Financial Group by 88.3% during the 1st quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank's stock valued at $37,000 after purchasing an additional 1,127 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in Sumitomo Mitsui Financial Group by 2,178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank's stock worth $45,000 after purchasing an additional 2,963 shares during the period. 3.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Sumitomo Mitsui Financial Group Trading Up 1.9%

SMFG stock traded up $0.28 during mid-day trading on Thursday, reaching $15.17. The company had a trading volume of 553,640 shares, compared to its average volume of 1,483,018. The company has a market capitalization of $98.21 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 2.36 and a beta of 0.40. The firm has a 50 day moving average of $14.19 and a 200 day moving average of $14.70. Sumitomo Mitsui Financial Group, Inc. has a 12 month low of $10.74 and a 12 month high of $16.74. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The bank reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). Sumitomo Mitsui Financial Group had a net margin of 12.61% and a return on equity of 8.52%. The business had revenue of $16.55 billion for the quarter. On average, equities analysts predict that Sumitomo Mitsui Financial Group, Inc. will post 0.39 earnings per share 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.