Goldman Sachs Group Inc. Has $174.26 Million Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

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. raised its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 0.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,271,361 shares of the bank's stock after purchasing an additional 53,612 shares during the quarter. Goldman Sachs Group Inc. owned 0.17% of Sumitomo Mitsui Financial Group worth $174,255,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SMFG. Natixis Advisors LLC grew its stake in Sumitomo Mitsui Financial Group by 59.8% during the 1st quarter. Natixis Advisors LLC now owns 1,439,197 shares of the bank's stock valued at $22,250,000 after purchasing an additional 538,823 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in Sumitomo Mitsui Financial Group during the 4th quarter valued at approximately $3,511,000. Parr Mcknight Wealth Management Group LLC acquired a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $3,508,000. Allianz SE acquired a new position in shares of Sumitomo Mitsui Financial Group in the 1st quarter worth approximately $3,401,000. Finally, Calamos Wealth Management LLC acquired a new position in shares of Sumitomo Mitsui Financial Group in the 1st quarter worth approximately $2,706,000. Institutional investors and hedge funds own 3.85% of the company's stock.

Analysts Set New Price Targets

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

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE SMFG traded down $0.19 during mid-day trading on Tuesday, reaching $16.58. The company had a trading volume of 1,351,295 shares, compared to its average volume of 1,929,791. The company has a 50-day moving average price of $15.96 and a two-hundred day moving average price of $15.14. The stock has a market cap of $106.59 billion, a PE ratio of 17.45, a P/E/G ratio of 0.81 and a beta of 0.39. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.75. Sumitomo Mitsui Financial Group Inc has a 1-year low of $11.83 and a 1-year high of $17.46.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last announced its earnings results on Thursday, July 31st. The bank reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.09. The company had revenue of $16.41 billion for the quarter, compared to analyst estimates of $1,094.67 billion. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%. On average, 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.