Sumitomo Mitsui Financial Group Inc $SMFG Shares Acquired by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its ownership in Sumitomo Mitsui Financial Group by 0.5%, holding approximately 11.27 million shares valued at $174.3 million as of the most recent reporting period.
• Multiple analysts upgraded their ratings on Sumitomo Mitsui Financial Group, with Zacks Research and Nomura Securities giving it a "strong-buy" rating, contributing to a consensus rating of "Strong Buy."
• The company's earnings report showed an EPS of $0.40, surpassing estimates, and it had a market capitalization of $108.17 billion, indicating positive financial performance amidst a debt-to-equity ratio of 1.75.

Goldman Sachs Group Inc. boosted its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,271,361 shares of the bank's stock after acquiring an additional 53,612 shares during the period. Goldman Sachs Group Inc. owned 0.17% of Sumitomo Mitsui Financial Group worth $174,255,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth about $25,000. Park Square Financial Group LLC acquired a new position in Sumitomo Mitsui Financial Group in the fourth quarter worth about $34,000. Private Trust Co. NA increased its holdings in 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 buying an additional 2,130 shares during the last quarter. Financial Management Professionals Inc. raised its stake in Sumitomo Mitsui Financial Group by 88.3% during 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. Finally, Zions Bancorporation National Association UT bought a new position in Sumitomo Mitsui Financial Group during the 1st quarter worth approximately $42,000. 3.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SMFG shares. Zacks Research upgraded Sumitomo Mitsui Financial Group from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Nomura Securities upgraded shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research report on Thursday, July 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, According to MarketBeat, Sumitomo Mitsui Financial Group currently has a consensus rating of "Strong Buy".

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE SMFG opened at $16.83 on Thursday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $108.17 billion, a PE ratio of 17.71, a P/E/G ratio of 0.80 and a beta of 0.39. Sumitomo Mitsui Financial Group Inc has a 1-year low of $11.83 and a 1-year high of $17.46. The business's fifty day moving average price is $15.83 and its two-hundred day moving average price is $15.10.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The bank reported $0.40 EPS for the quarter, topping the consensus estimate of $0.31 by $0.09. The business had revenue of $16.41 billion during the quarter, compared to analyst estimates of $1,094.67 billion. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. On average, research analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current 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.

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